President Donald Trump continued his assault on the Federal Reserve on Friday, bashing the central bank in three tweets — declaring in one that the U.S. economy doesn’t “have a tariff problem, we have a Fed problem.”
“The Euro is dropping against the dollar ‘like crazy,’ giving them a big export and manufacturing advantage … and the Fed does NOTHING!” Trump said in one post. “Our dollar is now the strongest in history.
“Sounds good, doesn’t it?” he posed. “Except to those (manufacturers) that make products for sale outside the U.S.”
The president then stated in his second tweet: “We don’t have a tariff problem (we are reigning in bad and/or unfair players), we have a Fed problem. They don’t have a clue!”
Trump then called for the Fed to further lower interest rates in his last tweet: “If the Fed would cut, we would have one of the biggest stock market increases in a long time.
“Badly run and weak companies are smartly blaming these small tariffs instead of themselves for bad management,” he continued, “and who can really blame them for doing that? Excuses!”
President Trump has continually ripped the Fed and Chairman Jerome Powell for not cutting interest rates further, asserting that monetary policy — not his tariff war with China — is hurting the economy.
Last month, the central bank lowered rates for the first time since 2008, but Trump said the cut should have been deeper.
He also has bashed the central bank for raising rates by a quarter point seven times in 2017 and 2018 — and on Tuesday, he slammed the Fed for not helping manufacturers with its monetary policy.
via newsmax
The only thing the President should be considering is getting back out on the trail and explaining things, as he sees them, to the American People. The swamp is fighting back and he needs to take off the gloves. The federal reserve should never have been created, their successes have been minimal and their failures spectacular. The economy is too strong for them to slow it down for the rest of the world to catch up.
Thank you! What you said is 100% correct.
Absolutely. And lets not forget that the federal reserve has never been pro American. Powell should be thrown on on his arse for betraying us.
The Federal Reserve is a completely independent organization created to take politics out of monetary policy. The FED is run by learned economists so the problem is Trump, not the FED. Go back to Andrew Jackson and see why we don’t have a central bank controlled by politicians.
Andrew Jackson was a Democrat. FDR was a Democrat. They proved Democrats cannot be trusted with power. When economists were economists the Fed could reign in the Democrats. But now economists have been politicized and trained in Marxist economic theory. The trouble with Marxist theory is that even with all the socialist experiments, none have succeeded for long. It turns out there just may be that there is no “right way” to insert a metal fork into an electrical outlet.
The Federal Reserve is Rogue agency only responsible to itself. No accountability to anyone but their own paychecks.
@d.richard tonge > How naive! The Federal Reserve is 100% POLITICAL. They manipulate monetary policy to manipulate elections for one. The creeps at the Fed Reserve lowered interest rates to ZERO during obummer’s term to hide a disastrous economy, and raised rates seven times in a row to slow down our economy after Trump historically lowered business strangling regulations and lowered corporate taxes.
The U.S. economy responded SO strongly that the fed can’t hide it, but they still try.
These so called “trained” economists are not rocket scientists, and there are tons on international businessmen that could and would do a much better job. Someone is lining powell’s pockets, or he’s afraid of the global SWAMP. So much for “politically independent.” Nothing could be further than the truth.
The problem is ONE HUNDRED THOUSAND times an ANTI-AMERICAN FEDERAL RESERVE.
Ken Wilson is correct. We don’t need a central bank that is NOT an American institution controlling our monetary policies. It should never have been created, as it can’t help but be a political institution. Way too much “independent” power with no checks or balances.
GET RID OF THE FEDERAL RESERVE!
MAGA! Best POTUS ever and completely correct about the Federal Reserve.
The federal reserve….created by a democratic president that refused the Constitution as relevant. The fed needs to be undone, along with the power to dictate the economy through interest rates. That responsibility should rest solely with elected representation. That means YOU CONGRESS! Remember? Promote the General Welfare not government welfare?
Congress could, and SHOULD, vote to eliminate the federal reserve. We need more conservatives with BACKBONE.
Trump 2020 all the way! Our POTUS tells it like it is.
Mr. President, I’am very sorry but I disagree in the strongest terms possible.
The Federal Reserve should be dissolved, when Alan Greenspan was it’s head, he said we need a 6% unemployment rate ( look it up) when we were down around 3%, He raised interest rates to slow the economy and put millions of Americans out of work, His reasoning was that there was not a large enough pool of reliable minimum wage workers, McDonalds, Wendy’s Walmart all needed minimum wage workers, but they wanted reliable workers. That dirty Bastard should have been executed for what he did to the country.
The Federal Reserve was constructed by and for the benefit of the elite who were running the country at the time. Those men (white men) I might add have all gone and died and now we have a new crop of elites who think they can run the country. And most of them couldn’t run their trust fund without bankrupting it.
Dick Tong above this comment stated that the fed is run by learned economists. The economists that are involved in the fed and the fedgov at present are not “learned”, they are trained seals. They have been taught the Keynesian socialist claptrap as economic truth, when in fact it’s all commie Bullshit.
At present the elite want to take Trump down and they think the best way would be to bomb the economy. What they probably fail to realize the fed pumped so much money into Wall Street during obama, that we have slid past a stock market correction or three and we are in for one hell of a doozy stock market crash. Roughly we can expect to see a crash and a recession in about 18 months. Meanwhile the stock market will continue to go up. Look it up. The same thing has happened five times in the past 40 year or so.
What we deplorables need to do is dismantle the Fed. Shut down the irs (and the fbi, cia, nsa, cfr, and many more) and start fresh. That will be after we purge ALL the commies from our midst.
Sounds like a great plan. Now all we need is a few more conservatives with Trump’s BACKBONE.
Love a POTUS that is not the least bit political, doesn’t speak like a politician, but simply tells it like it is. I don’t think any president has been more transparent or loyal to the American people.
MAGA!