President Trump could have ended up “turning” the Federal Reserve in its quest to hike interest rates. Fox News Insider reports:
A stock market analyst said Wednesday on “Your World” that the Federal Reserve appeared to “do a 180” and stopped dramatically hiking federal interest rates because President Trump “got in” Fed Chairman Jerome Powell’s head.
In October, Powell — who was appointed by Trump for the 10-year-term to succeed Obama’s Fed chair Janet Yellen — said the Fed rate was “world’s apart” from where it should be.
During the Obama administration, the federal interest rate was dropped to zero for a long period of time, but Powell began to hike the rate back toward where it was in the early 2000s.
Trump has repeatedly blasted Powell’s decision to hike the rate so drastically at once, appearing to pin October’s volatile stock market performance on that development.
Stable interest rates won’t upset the market, but continuous low rates would provide little room for economic stimulus if a recession were to hit the United States.
Most people have no clue that the internet bubble actually popped in lat 1999, but didn’t seem like that big of a deal until it had had already been in a major decline for 2.5 years – all the sudden at the end of 2001 & the beginning of 2002 everyone realized the rubber had failed. Everyone tried to blame bush but it was really Clinton who got it so pregnant the water broke. The economy hadn’t actually recovered properly when the property bubble farted a wet one leaving skid marks that nothing was going to clean up. Bush made a terrible mistake leaving Obama in charge of most of the TARP funds that were approved in October 2008 – he should have allocated all of it rather than let Barry-Make-myself-&-my-friends-rich-with-kickbacks Obama have control over any of it, even though it seemed like the honorable thing to do. Democrats are good at two things: lining their pockets with OPM and completely mismanaging finances.
Pelosi is the clone of a child. Thevdregs of humanity.
I’m glad that Mr Powell has decided to ‘hold-off’ increasing interest rates. With the House of Representatives being taken over by the DemocRats, the economy will be ‘facing’ an uphill battle for the next two years. We don’t need the added increase in interest rates with the change in the ‘House’ and the REST of those who oppose a greater economy.
Even the Fed knows that Pelosi is about to reduce a roaring all-GOP economy to global-depression ashes for the 2nd time in 2 chances in 12 years.