Home Economy Trump Tweets Fed, Powell ‘Fail Again’ After Rate Cut

Trump Tweets Fed, Powell ‘Fail Again’ After Rate Cut

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WASHINGTON, DC - NOVEMBER 02: (L to R) U.S. President Donald Trump looks on as his nominee for the chairman of the Federal Reserve Jerome Powell takes to the podium during a press event in the Rose Garden at the White House, November 2, 2017 in Washington, DC. Current Federal Reserve chair Janet Yellen's term expires in February. (Photo by Drew Angerer/Getty Images)

    The Federal Reserve, as expected, cut interest rates for the second time since July — and, as expected, it wasn’t enough for President Donald Trump.

    Trump assailed policy makers just minutes after their decision Wednesday to cut the benchmark interest rate by another 25 basis points.

    “Jay Powell and the Federal Reserve Fail Again,” he said in a tweet. “No ‘guts,’ no sense, no vision! A terrible communicator!”Trump said of Powell in his latest Twitter attack on the central bank, less than a half hour after the Fed announced its second rate reduction this year.

    Trump had called for a larger rate cut from the Fed. He has repeatedly railed against the Fed and Powell, whom he appointed as chair, claiming that the Fed’s monetary policy has been holding back U.S. economic growth.

    The Fed, in announcing the rate cut, said Trump’s trade war with China and a global economic showdown ran the risk of creating headwinds for U.S. economic growth, but it gave mixed signals as to what sort of actions it may take next.

    The president has repeatedly attacked the Fed since mid-2018, demanding lower rates to help boost economic growth. At one point he asked whether Fed Chair Jerome Powell or China’s president, Xi Jinping, was “our bigger enemy.”

    Powell acknowledges that officials at the U.S. central bank are fractured about next steps on interest rates.

    Forecasts from the Fed show uncertainty about the course of rates after Wednesday’s rate cut. The uncertainty stems from Trump’s pursuit of tariffs against China and a broader global slowdown that has irked businesses and manufacturers though consumer spending has been relatively solid.

    “This is a time of difficult judgments and disparate perspectives,” Powell said at a news conference. “I really do think that is nothing but healthy.”

    The president has wanted the federal funds rate to be near-zero, rather than the range of 1.75% to 2% set by the Fed. Trump has remarked that other countries such as Germany have an advantage because their interest rates are negative, even though negative rates are a sign that those economies are in a recession and may struggle to grow in the longer term.

    The market expected the quarter-point cut to the federal funds rate, which influences many consumer and business loans. But three of the 10 voting officials dissented from the decision, and the Fed looks divided on what to do next. That ambiguity may have displeased investors on Wall Street.

    Material from Bloomberg, Reuters and the Associated Press has been used in this report.

    via newsmax

    3 COMMENTS

    1. The FED is going to fail in it’s ‘effort” to stop controlling our economy to t their own advantage against ours – that is they are determined to end to cause a recession.

      Biblical 2nd Ammendment, If you don’t own a sword, sell your cloak & buy one. Luke22;38. Ecclesiastes10:1-3, “As dead flies give perfume a bad smell, so a little folly outweighs wisdom &honor. The heart of the wise inclines to the right, but the heart of the fool to the left. Even as he walks along the road, the fool lacks sense & shows everyone how stupid he is.” Leftists are traitors & losers from start to finish even when they act nice or appear to win, they lose. …AND Frank Zappa for President 2024:: “Socialism produces bad art, bad music, social stagnation & really unhappy people.” …and satanists. Leftists seem to have full spectrum narcissistic psychosis & inflict PTSD on opponents by using verbal abuse & lies of every kind as well as other terroristic underhanded tactics of the dedicated psychotic-natcissist. See for yourself on YouTube: NarcAWAY. Narc ology unscripted. Surviving Narcissism. Michele Lee Nieves. For real news go to OANN (One America News Network). Also: THE EPOCH TIMES, Truth & Tradition. Dedicated legitimate legal Xtian immigrant patriots who escaped commie China & know they are finished unless they continue to fight the commie HORROR regardless of consequences. To remove the blinders & psycho propaganda MASK Read: TIPING POINTS: How to Topple the Left’s House of Cards. LIZ WHEELER (OAN Commentator). MAKING LOVE GREAT AGAIN: The New Road to Reviving Romance & Winning at Relationships. DEANNA LORRAINE. TAKE NO PRISONERS: Battle Plan for Defeating the Left, DAVID HOROWITZ. BIG AGENDAç President Trump’s Plan to Save America. DAVID HOROWITZ. JIHADIST PSYCHOPATH: How Hw Is Charming, Seducing & Devouring Us. JAMIE GLAZOV. THE HISTORY OF JIHAD, From Mohammed to ISIS. ROBERT SPENCER. Web sites & channels for truth: Stefan Molyneux, freedomain.com . YouTube: Bill Whittle. Acts17apologetics. Apostate Prophet. Julie Mora. American Intelligence Media.

    2. It’s NOT FEDERAL that’s just cover name they’re a NON GOVERNMENT CORPORATION only in the BUSINESS of MANIPULATING economies around the WORLD, printing money out of thin Air to be loaned and borrowed and setting at their WILL as they please INTEREST — RATES on us slaves. It was 2 times under the control of US but THE banisters bribed out polititions to put what was once the real FEDERAL R S E R V E BANK. NOW it’s a corrupt EVIL NEW WORLD ORDER CORPORATION AGENCY working like the rest of the scocialist to stifuling ANYTHING AND EVERYTHING trump and ENEMYIES OF THE STATE meaning YOU AND ME desire of GOOD for the BENIFIT of ourselves and the NATION. SUBVERSIVE TACTICS and METHODS of “”ALL TYPES WILL “”INCREASE”” as the ELECTION GETS CLOSER. FREEDOM, SOUVERNTY and GREATOR SELF EMPOWERMENT CANNOT BE “”MANIFESTED”” Their rules “”TRUMP MUST BE “”DESTROYED”” and ALL OUR HOPES ALONG WITH HIM! SCARY “” DANGEROUS TIMES “” PRAY FOR ALL MORE THAN “”EVER””BEFORE. CLAIRION CALL. Support each other keep responding text messages to the LIES ,DECEPTIONS, DISTORTIONS and B—SHT PROPAGANDA it’s WAR!!!

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