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Trump thinks the Federal Reserve is run by an idiot [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-04-17
Trump has been pressuring the Federal Reserve to drop interest rates by some major amounts since he took office. His own actions with creating so much uncertainty, meaning all the on again, off again, still leaving the 10% on everybody tariffs in place preclude making sudden moves.
Trump's tariffs almost tanked the treasuries bond market, which would have increased the U.S. debt exponentially without spending a dime.
Donald should just shut up. But he didn't.
Up at 3am PT, 6am ET, he let loose on Jerome Powell.
ECB is the European Central Bank. They've cut their interest rate three times since January, including today's to 2.25%. They had cut rates six times in a row, and with this morning's cut, seven times in a row. The Federal Reserve rate is at 4.33%. So, of course, the Fed must be doing their control to thwart Trump's plan, whatever the hell it is.
"'Too Late' Jerome Powell of the Fed, who is always TOO LATE AND WRONG..."
Too many "too late"s in one sentence. Repetitive, like we didn't see the first one. At least he didn't say "Left Wing Radical Deranged."
"... yesterday issued a report whuch was, and typical, complete 'mess!"'
Well, the issuing of a report statement is a lie. Didn't happen. What did happen yesterday was a speech by Jerome Powell at the Economic Club of Chicago where he laid out the facts, and cited your insane tariffs as the greatest source of uncertainty.
"Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS."
Oil prices are down. The price of eggs is at the highest yet. A bad and verifiable lie. Groceries as a whole, going straight up. Another verifiable lie.
"Rich on tariffs" is so laughable it almost doesn't need a reply. Nobody is going to get rich on tariffs. Read Powell's speech, Donald. It's very short, so it shouldn't be that tough with your attention span.
"Too Late should have lowered Interest Rates..."
"Too Late" is apparently Powell's new first name. Not even preceded by a "Crooked" or "Deranged." Or using his last name. He uses it at the end.
"Powell's termination cannot come fast enough!"
Jerome is set to stay until May, 2026. Trump's ability to fire heads of independent agencies is in front of the Supreme Court even as we speak. Powell even covered this in his speech, pointing out that Fed governors are not removable, except for cause. Just like judges.
So, Donald can rail all he wants, but Powell explained the main reason for lack of consumer confidence was what? Tariffs!
Donald, you need to get a brain, like the Scarecrow in Oz. Tariffs don't work the way you think. You haven't learned from history so you are repeating it. You like McKinley because there was no income tax and we weren't destitute. That's a far cry from being successful, or rich.
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