Trump Escalates Attack On Powell: "Every Time We Do Something Great, He Raises Interest Rates"

[goldenequity]

Boom, Bust Cycle... a time honored tradition.



Ignoring the pleas of his closest advisors and practically every financial professional in the US, the president stepped up his attacks on Powell
Trump Escalates Attack On Powell: "Every Time We Do Something Great, He Raises Interest Rates"
https://www.zerohedge.com/news/2018-10-23/trump-escalates-attack-powell-every-time-we-do-something-great-he-raises-interest
https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/RTS1Y8CP-e1535111065181%20%282%29.jpg?itok=hwQ6te3P

Trump unleashed on the Federal Reserve and its chairman, Jerome Powell, during a 30-minute Oval Office interview with the Wall Street Journal,
once again blaming the central bank for the market chaos that's erupted over the past few weeks.
While the Fed is supposed to be independent "in theory", Trump suggested that he wouldn't keep quiet and let the central bank wreck the economy.

He said the Fed was supposed to be independent “in theory,” but
“To me the Fed is the biggest risk, because I think interest rates are being raised too quickly,”

Asked what would push him to try and remove Powell, Trump refused to answer with specifics.

Mr. Trump demurred when asked under what circumstances he’d remove Mr. Powell. “I don’t know,” he said.
“I’m just saying this: I’m very unhappy with the Fed because Obama had zero interest rates.”
Mr. Trump said it was “too early to tell, but maybe” if he regrets nominating Mr. Powell.

Pressed about what he believes is the biggest threat to the US economy, Trump replied: "The Fed" adding that every time he tries to do something great, they spoil the party.

“Every time we do something great, he raises the interest rates,” Mr. Trump said, adding that Mr. Powell “almost looks like he’s happy raising interest rates.”
The president declined to elaborate, and a spokeswoman for the Fed declined to comment.

[jkr]

THEN COIN YOUR OWN DAMN "MONEY"

[goldenequity]

https://i.kym-cdn.com/photos/images/original/000/969/891/d81.gif

[AuH20]

Trump will use the fed for his short-term goals and then destroy them, when they inevitably attempt the political ambush. I suspect that's what is playing out.

[Chester Copperpot]

Trump will use the fed for his short-term goals and then destroy them, when they inevitably attempt the political ambush. I suspect that's what is playing out.

Lets hope.. I think if nothing else its good pointing the finger at the FED ahead of time... this is reminiscent of Andrew Jackson now.. when the crash came and the people complained to him he said dont complain to me.. go talk to Nicholas Biddle who was head of the central bank.

[Zippyjuan]

Trump worried about how he compares to Obama.


“I’m just saying this: I’m very unhappy with the Fed because Obama had zero interest rates.”

The Fed started raising rates under Obama.

[Swordsmyth]

Lets hope.. I think if nothing else its good pointing the finger at the FED ahead of time... this is reminiscent of Andrew Jackson now.. when the crash came and the people complained to him he said dont complain to me.. go talk to Nicholas Biddle who was head of the central bank.

https://images.duckduckgo.com/iu/?u=https%3A%2F%2Ftse1.mm.bing.net%2Fth%3Fid%3DOIP. e9TbTxC1hBMrn0lZAHuQSwHaFj%26pid%3D15.1&f=1

https://images.duckduckgo.com/iu/?u=https%3A%2F%2Ftse2.mm.bing.net%2Fth%3Fid%3DOIP. HDifIgz293CBy2I3NsBdjAHaGm%26pid%3D15.1&f=1

[oyarde]

Probably be a good time for one of you guys to let Trump know the Fed does not serve the people .

[AZJoe]

1055071603808182272

[AZJoe]

So after claiming sole credit for these last two years for the tail end of the market bubble ("the greatest economy ever, ever, ever"), Trump now admits this bubble inflation was merely being kept alive by Fed distortions and artificially low rates.

[AZJoe]

Repost (http://www.ronpaulforums.com/showthread.php?527315-Trump-The-fed-has-gone-crazy&p=6691556&viewfull=1#post6691556)-

After claiming all credit for the tail end of the bubble economy, "it was all due to him," now he wants to blame the fed for the crash. The problem isn't the pricking of the bubble, it was the past ten years of bubble inflation. And yes, that is the Fed's fault. The problem is he has set himself up these past two years take the blame - his continued cheerleading for the bubble expansion, his proposals to increase spending, his signing record setting deficits, and budget spending. He unfortunately set himself up to be the fall guy. He walked, no ran, right into it.

When the market continues its 10 yr bubble expansion - Trump: "It is all me. All because of me. I am great. This fake bubble economy is great!!"
When the market crashes - Trump: "The Fed has gone crazy. Why won't they inflate the bubble. Print, print print. The Fed has gone crazy. It's all the Fed's fault."

The Fed hasn't gone crazy. Its been crazy. This teensy, tiny, miniscule quarter point rate hike is about the sanest thing the Fed has done in a long while.
The economy and market bubble are so phony that all it takes is a teensy, tiny, miniscule quarter point rate hike to set off "the sky is falling" panic.

Trump was right as a candidate - the economy was phony, the market was a bubble, the labor statistics were phony and we had a phony Fed inflated bubble economy.
As soon as he took office, everything he called fake and phony suddenly became ""real". He embraced the same fake numbers, spouted the phony lies sounding exactly like Obama - "Oh look at these jobs numbers. I am the greatest. I made it all happen. The best economy ever, ever, ever!"

[nikcers]

high interest rates aren't anything to defend, not defending high interest rates or advocating for them but I think the market should set the interest rates. If this is Trumps way of getting people to blame the fed when the economy gets worse then I don't blame him he didn't create this mess, maybe if we can get people to understand its the feds manipulation of interest rates that is the problem then we can get the fed out of the way and our economy will grow again.

[Aratus]

Unfortunately...yes. House of Cards, yes. It's starting to crash. Dip. Bear down.

[goldenequity]

Unfortunately...yes. House of Cards, yes. It's starting to crash. Dip. Bear down.

Warning: The Fed is Not Going to Rescue Stocks This Time
https://www.zerohedge.com/news/2018-10-26/warning-fed-not-going-rescue-stocks-time https://illiweb.com/fa/i/smiles/icon_evil.gif

For those who think the Fed is going to “save stocks” think again.

As I repeatedly have warned throughout 2018, the Fed is FAR more concerned about BONDS, than stocks.

When stocks collapse, investors lose money.

When bonds collapse, entire countries go broke.

With that in mind, once the US bond market began to collapse, pushing yields above their long-term trendline, it became apparent that the Fed would “sacrifice stocks to save bonds.”

https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/GPC102618.png?itok=1-r2X_3W

Letting stocks collapse will force capital into bonds, thereby forcing yields lower.

That process is now officially underway. And if you think the Fed is close to “stepping in” you’re mistaken. Cleveland Fed President Helen Mester just told CNBC this morning that “the stock market drop is FAR from hurting the US economy.”

This ties in with Fed Chair Jerome Powell’s assertion during a recent Q&A session that the Fed would not step in to prop up the stock market unless it was a sustained collapse that was bad enough to impact the REAL economy, specifically consumer spending.

In simple terms... the Fed's not coming to the rescue this time. And stocks are going to have to drop a LOT further before it does.

[Anti Globalist]

These attacks on the fed chairman better result in the fed eventually ending.

[r3volution 3.0]

Trump will use the fed for his short-term goals and then destroy them, when they inevitably attempt the political ambush. I suspect that's what is playing out.

https://westernrifleshooters.files.wordpress.com/2015/12/screen-shot-2015-12-28-at-4-53-03-am.png

MAGArific delusions aside, the reality is obvious.

Trump, like his predecessors, wants the Fed to print money to finance the deficit and keep the everything-bubble going.

[nikcers]

MAGArific delusions aside, the reality is obvious.

Trump, like his predecessors, wants the Fed to print money to finance the deficit and keep the everything-bubble going.

Glorious rainbow skittle shitting unicorns aside I was thinking this is more of his style of pointing the blame politically at something or someone else to distract the media from blaming him. Rand didn't mention on the MSM that he talks to Trump about the federal reserve, just foreign policy.

[Zippyjuan]

Warning: The Fed is Not Going to Rescue Stocks This Time
https://www.zerohedge.com/news/2018-10-26/warning-fed-not-going-rescue-stocks-time https://illiweb.com/fa/i/smiles/icon_evil.gif

For those who think the Fed is going to “save stocks” think again.

As I repeatedly have warned throughout 2018, the Fed is FAR more concerned about BONDS, than stocks.

When stocks collapse, investors lose money.

When bonds collapse, entire countries go broke.

With that in mind, once the US bond market began to collapse, pushing yields above their long-term trendline, it became apparent that the Fed would “sacrifice stocks to save bonds.”

https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/GPC102618.png?itok=1-r2X_3W

Letting stocks collapse will force capital into bonds, thereby forcing yields lower.

That process is now officially underway. And if you think the Fed is close to “stepping in” you’re mistaken. Cleveland Fed President Helen Mester just told CNBC this morning that “the stock market drop is FAR from hurting the US economy.”

This ties in with Fed Chair Jerome Powell’s assertion during a recent Q&A session that the Fed would not step in to prop up the stock market unless it was a sustained collapse that was bad enough to impact the REAL economy, specifically consumer spending.

In simple terms... the Fed's not coming to the rescue this time. And stocks are going to have to drop a LOT further before it does.

Zerohedge is always calling for a collapse. Eventually they may get it right.

[NorthCarolinaLiberty]

Zerohedge is always calling for a collapse.

Other newz outlets do the same thing all the time. For example:




In a 2008 program, ABC News predicted that New York City would be UNDER WATER by 2015, gas would cost $9 a gallon, and milk would cost $13 per gallon.




https://www.youtube.com/watch?v=DaOGPcmyN54