skews13
Diamond Member
- Mar 18, 2017
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President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.
Now, Powell is finally cutting interest rates. But according to Politico, it isnāt because Trump demanded it. Rather, itās because Trumpās trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.
āThere is just no question that Powell has been āTrumpedā here,ā said investment strategist Ed Yardeni. āJust read Powellās comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heād get the Fed to cut rates.ā
Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaās international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.
The Federal Reserve is cutting interest rates to counteract the damage from Trumpās trade war: report
It's a good thing we have a government to check this loser and grifter. It may be to late though.
Now, Powell is finally cutting interest rates. But according to Politico, it isnāt because Trump demanded it. Rather, itās because Trumpās trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.
āThere is just no question that Powell has been āTrumpedā here,ā said investment strategist Ed Yardeni. āJust read Powellās comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heād get the Fed to cut rates.ā
Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaās international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.
The Federal Reserve is cutting interest rates to counteract the damage from Trumpās trade war: report
It's a good thing we have a government to check this loser and grifter. It may be to late though.