Posted on 10/11/2018 7:49:48 AM PDT by SeekAndFind
Donald Trump hit out at the Federal Reserve on Wednesday, accusing them of “going loco” over interest rate hikes this year, hours after the worst US stock market sell-off since February.
Mr Trump said in an interview on Fox News that the market plunge was not because of his trade conflict with China, instead blaming the US central bank. “That wasn’t it. The problem I have is with the Fed,” he said. “The Fed is going wild. They’re raising interest rates and it’s ridiculous. The Fed is going loco.”
He added: “They’re so tight. I think the Fed has gone crazy.”
Mr Trump appeared to blame the Fed for a stock rout that market analysts mostly attributed to fresh concern about his trade war with China.
The broad US stock market sell-off on Wednesday took the S&P 500 to the lowest in three months, the Dow Jones Industrial Average plunged as much as 836 points and the Nasdaq 100 Index tumbled more than 4 per cent for its worst day in seven years.
The sell-off came a day after the IMF said the world economy was plateauing and cut its growth forecast for the first time in more than two years, blaming escalating trade tensions and stresses in emerging markets.
Mr Trump has slapped tariffs on $250bn (£190bn) in Chinese goods this year, and Beijing has retaliated with levies of $110bn of American products. The IMF projections don’t take into account the president’s threat to expand the tariffs to effectively all of the more than $500bn in goods the US bought from China last year.
Mr Trump has been publicly criticising the Fed - led by Chairman Jerome Powell, whom he appointed - since July for interest-rate increases and declared he was “not happy”
(Excerpt) Read more at yahoo.com ...
When they give you a flu shot it hurts, at first.
When I went in for shoulder surgery 9 years ago, it hurt for a few months. I’ve been a lot better than before the surgery ever since.
To make an omelette, you have to break some eggs.
I think you get my drift here. :-)
It’s a ‘Hit Job’ on Trump.......................
Who is more “deep state” than the FED? And who wants to harm President Trump? The deep state.
The IMF loves what Powell is doing because it hurts the USA.
The IMF globalist are the enemy of America. Which ask the question: Who’s side is Powell working for?
To drain The Swamp, you have to break some legs...................
Shhhh, we’re not supposed to remember that.
This is the bad side of Trump. He appoints people and then acts like they don’t have any connection with him — same with cabinet secretaries and other administration officials. He needs to take responsibility for his appointments. Besides, the last thing we need right now is easy money. He’s acting like a typical developer pushing for low rates and easy money.
‘The Fed’ is a creation of Congress.
It can be abolished.....................
Just because Trump appointed them does not mean they can’t be suborned.
This is the bad side of Trump.
...
No it isn’t. Just because he appoints someone, doesn’t mean they will behave properly. We’ve already seen that. (Jeff Sessions for one).
Trump is right. The Fed causes recessions. Interest rates should be determined by the markets, not manipulation by a defacto government agency.
I’m glad we have a president who fights for what’s right.
the deep state seems several levels deep if trump can’t get good personnel picks, and it seems he may still be plagued by deep state traitors. maybe they are not deep staters when appointed but relatively easy to reach by the deep state once they assume office? or, trump simply can’t find good folks? seems to me he could come to some grassroots orgs such as FR and find good folks (but what do i know...)
i had pegged the problem to the USMCA, which is tangentially connected to the US-China trade impasse...
the fed rate hike announcement was 14 days ago, so maybe trump is kicking up more kabuki dust (??) if only just until the next major market uptick (??)
and he just appointed a fed regulator allegedly counter to his views 21 days ago:
https://www.nytimes.com/2018/09/19/us/politics/fed-board-nellie-liang.html
This is the bad side of Trump. He appoints people and then acts like they don’t have any connection with him — same with cabinet secretaries and other administration officials.
——-
When he messes up it’s BIGLY. The performance of Wray yesterday shows the man to be an incompetent go along to get along stooge. Jay Powell wrote in 2012 if the FED raised interest rates while unwinding the QE balance sheet the economy would tank...that’s what he is doing...President Trump is all I have, but this is the side of him that lets a street thug like Omorossa walk around the dignified White House...
I disagree with President Trump. I’m looking at my small portfolio. The sell off has hardly dented the increase over the past year, if you have solid stocks. Some selloff will generate profits and spending will contribute to the economy. And some seniors and near-retirees just might be putting some money in FDIC insured CDs, now that interest is going up.
He had to fill the vacancies.
The problem lies with the SYSTEM, not the OERSONALITIES.
THE FED NEEDS TO BE DEMOLISHED.
The Fed is globalist oriented and the TIMING is NOT accidental!
THE FED ITSELF IS THE ISSUE!!!!
END IT!!
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