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 ...
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.
Didn’t the Fed also say that they plan several interest rate hikes next year?
He’s right. I don’t know if the Fed is the only problem, but without a doubt the biggest.
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.
Donald, you appointed a man known as an “Inflation hawk”. Tell me, what did you think that meant?
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.
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.
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.
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...
At some point the blame for what Trumps appointees do has to come back to Trump. He appointed them. You can’t delegate responsibility
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?
Fire the Fed Chair.
Abolish the Fed.
Eliminate funding to hostile Federal Courts.
Refuse to seat all Democratic House Members.
The Fed is a committee of elitists.
Government pension recipients always get their taxpayer bailout (and their 90% wage retirement).
The chairman was appointed by Trump. Sorry, but Trump can’t escape accountability when itshjis aPpointgee who is doing damage
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.
US exceptionalism is bad for globalism.
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