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Trump blasts Federal Reserve as ‘only problem’ with US economy
Washington Examiner ^ | December 24, 2018 12:25 PM | Kelly Cohen

Posted on 12/24/2018 11:28:26 AM PST by E. Pluribus Unum

President Trump condemned the Federal Reserve early Christmas Eve as the stock market dipped on Monday’s short trading day amid interest rate concerns and federal government shutdown drama.

“The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders,” Trump said in a tweet Monday. “The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt!”

The attack comes after Bloomberg News reported late Friday that Trump had discussed firing Federal Reserve Chairman Jerome Powell amid frustration at the stock market’s meltdown in December.

In two tweets posted Saturday evening, Treasury Secretary Steven Mnuchin said that he'd spoken to Trump about Powell on Saturday and that Trump told him, "I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so.”

White House press secretary Sarah Sanders told the Washington Examiner that she's "aware of no plans” to fire Powell.

White House budget director Mick Mulvaney, who is the incoming acting White House chief of staff, said in an interview Sunday with ABC News that Trump “now realizes” he can’t fire Powell.

The president’s tweet also comes after the Dow Jones Industrial Average opened on Monday’s short trading day down 338 points, or 1.5 percent.

(Excerpt) Read more at washingtonexaminer.com ...


TOPICS: News/Current Events
KEYWORDS: fed; stockmarket; trumpfed
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1 posted on 12/24/2018 11:28:26 AM PST by E. Pluribus Unum
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To: E. Pluribus Unum

I wonder how public employees feel about being collateral damage in the uniparty’s war on Trump...

Trump is the only chance they have at keeping their pension funds semi-solvent.


2 posted on 12/24/2018 11:31:22 AM PST by mewzilla (Break out the mustard seeds.)
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To: E. Pluribus Unum

Didn’t the Fed also say that they plan several interest rate hikes next year?


3 posted on 12/24/2018 11:32:13 AM PST by a fool in paradise (Denounce DUAC - The Democrats Un-American Activists Committtee)
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To: E. Pluribus Unum

He’s right. I don’t know if the Fed is the only problem, but without a doubt the biggest.


4 posted on 12/24/2018 11:32:28 AM PST by Moonman62 (Give a man a fish and he'll be a Democrat. Teach a man to fish and he'll be a responsible citizen.)
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To: a fool in paradise

They plan two, but it should be none, and they shouldn’t have done the last few.

If they want to normalize something it should be the yield curve and let the economy grow. Economic growth does not cause inflation.


5 posted on 12/24/2018 11:34:34 AM PST by Moonman62 (Give a man a fish and he'll be a Democrat. Teach a man to fish and he'll be a responsible citizen.)
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To: E. Pluribus Unum

Donald, you appointed a man known as an “Inflation hawk”. Tell me, what did you think that meant?


6 posted on 12/24/2018 11:34:59 AM PST by heights
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To: mewzilla

The housing collapse in 2006, $4 a gallon gasoline, all planned catastrophes.

Even Bill Maher has called for economic collapse to oust Trump.

Communists don’t give a damn about working people.

Obama said he was fine with gas being $4 a gallon.

Buffett lost a billion dollars in one year running up the price of gas while Bush was president.


7 posted on 12/24/2018 11:35:49 AM PST by a fool in paradise (Denounce DUAC - The Democrats Un-American Activists Committtee)
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To: a fool in paradise

The Fed was talking about at least a couple of hikes in 2019. But in the last 72 hours or so that’s been walked back. Maybe.

Snort.


8 posted on 12/24/2018 11:36:20 AM PST by mewzilla (Break out the mustard seeds.)
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To: Moonman62

Trump appointed the current fed chair. If the chairman disagrees with Trump on economic policy, that’s nothing new. Trump seems to hire a lot of people who aren’t on board with his policies.


9 posted on 12/24/2018 11:36:40 AM PST by rintintin
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To: a fool in paradise

Well, I wonder if all those Deep State, Never Trump public employees whose pension funds are taking a bath will change their minds about getting Trump...


10 posted on 12/24/2018 11:37:56 AM PST by mewzilla (Break out the mustard seeds.)
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To: heights

At some point the blame for what Trumps appointees do has to come back to Trump. He appointed them. You can’t delegate responsibility


11 posted on 12/24/2018 11:39:44 AM PST by rintintin
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To: E. Pluribus Unum

I agree with him. My question is who really controls the Federal Reserve? Under Obama the interest rate at the Federal Reserve was at zero percent for many years. Now under President Trump they are raising the rate at a fast rate. Is there really a need to do so like high inflation?


12 posted on 12/24/2018 11:39:55 AM PST by Parley Baer
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To: E. Pluribus Unum

Fire the Fed Chair.

Abolish the Fed.

Eliminate funding to hostile Federal Courts.

Refuse to seat all Democratic House Members.


13 posted on 12/24/2018 11:40:25 AM PST by Blue House Sue
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To: rintintin

The Fed is a committee of elitists.


14 posted on 12/24/2018 11:41:42 AM PST by Moonman62 (Give a man a fish and he'll be a Democrat. Teach a man to fish and he'll be a responsible citizen.)
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Comment #15 Removed by Moderator

To: mewzilla

Government pension recipients always get their taxpayer bailout (and their 90% wage retirement).


16 posted on 12/24/2018 11:44:30 AM PST by a fool in paradise (Denounce DUAC - The Democrats Un-American Activists Committtee)
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To: Moonman62

The chairman was appointed by Trump. Sorry, but Trump can’t escape accountability when itshjis aPpointgee who is doing damage


17 posted on 12/24/2018 11:45:14 AM PST by rintintin
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To: E. Pluribus Unum
The deep state is fighting DJT though the stock market and the banking system not to mention the demonicrats. Where is Soros anyway?
18 posted on 12/24/2018 11:45:48 AM PST by mountainlion (Live well for those that did not make it back.)
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To: E. Pluribus Unum
See Post #51 in this thread for an explanation of what's happening here:

Click Here

The U.S. economy is facing a reality check because the era of printing fake money is winding down. The FED is no longer subsidizing homeowners and Uncle Sam by artificially depressing interest rates, so the U.S. dollar must now stand on its own.

19 posted on 12/24/2018 11:45:58 AM PST by Alberta's Child ("I'm a cool dude in a loose mood! Hey -- two ginger ales for my girls!")
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To: Moonman62

US exceptionalism is bad for globalism.


20 posted on 12/24/2018 11:46:05 AM PST by a fool in paradise (Denounce DUAC - The Democrats Un-American Activists Committtee)
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