Trump steps up his attacks on Federal Reserve's rate hikes
WASHINGTON — President Donald Trump on Thursday escalated his attack on the Federal Reserve's interest rate increases, asserting that "the Fed is out of control" and blaming it for this week's plunge in stock prices.
"It's a correction that I think is caused by the Federal Reserve with interest rates," Trump said when asked by reporters in the Oval Office about the stock market swoon.
He added, "We have interest rates going up at a clip that's much faster than certainly a lot of people, including myself, would have anticipated. I think the Fed is out of control."
It was the latest in series of recent barrages the president has unleashed at the Fed, which under his hand-picked chairman, Jerome Powell, has been gradually raising rates as the economy has strengthened to prevent a run-up in inflation. Critics have expressed worry that the president's attacks threaten the Fed's ability to operate free of political pressure.
https://www.msn.com/en-us/news/politics/trump-steps-up-his-attacks-on-federal-reserves-rate-hikes/ar-BBOfLaR?li=BBnb7Kz
As I said in another thread, the last president who tried to pressure the Federal Reserve was Nixon. The result was double digit inflation.
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I know jack-diddly about economics, but I do know that the fed raises rates when the economy gets a "bright moment" (as Fed Reserve chair Jerome Powell calls it). And pulling all those industry regulations "juiced" the economy for awhile. A short while.
Dumb. Dumb, dumb, dumb.
..He's Getting Soft Folks.
