Posted on 11/12/2019 3:24:01 PM PST by Libloather
President Trump on Tuesday painted a rosy picture of the booming US economy, but slammed the Federal Reserve in a rousing speech to the Economic Club of New York.
“Today, I am proud to stand before you as president of the United States to report that we have delivered on our promises and exceeded our expectations by a very wide margin. We have ended the war on American workers, we have stopped the assault on American industry, and we have launched an economic boom the likes of which we have never seen before,” the president said at a luncheon at the New York Hilton Midtown.
Trump said his administration had worked to bolster the economy despite what he said were too many interest rate hikes by the Federal Reserve.
**SNIP**
“I never believed for one moment that our magnificent nation was destined for a diminished future. I knew that our destiny was in our own hands - that we could choose to reject a future of America, and look at a future of American decline, [but] to build a future of American dominance,” he said.
(Excerpt) Read more at nypost.com ...
Interest rates should be set by the markets, not by Ivy Leaguers who make the false claim that wage increases or a growing economy cause inflation.
The video is on the White House youtube channel.
I watched it live. His answers to the two questions after were great too.
https://www.youtube.com/watch?v=8kRmKRbuIOI
Thanks for the link. Watching it now.
Anytime I feel a little down, or frustrated over news reports, listening to him buoys my spirits.
I feel so fortunate to being alive to see someone like him leading our country.
A legend is being born.
Trump is setting the stage for getting rid of the Fed.
FROM YOUR KEYBOARD TO GOD’S INBOX!
Didn;t see the whole speech, but this was not the crux of it.
No he covered the economy from A to Z and touched on many other achievements. It was a great speech.
Hope you’re right.
I read, not too long ago, that every recession we’ve had has been tied to Fed policies and mismanagement...like socialism, they were tried, they failed, time to let them go.
Well you are right except what the average American does not realize is that the Fed creates the recessions by design. Powell had every intention of keeping interest rates up and letting the economy hit the rocks for the 2020 election in the hopes of getting rid of Trump. But Trump started openly attacking him and has forced rates down. Look for at least one more rate cut by years end. We need to be at zero. Europe is already at negative rates.
Couldn’t agree more - I think it took the Fed’s hubristic ego by surprise when President Trump called him out...
How many Freepers remember first hand the 20% plus PRIME interest rates under Jimmah Carter???
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