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bigtree

(91,709 posts)
Wed Jul 17, 2024, 12:11 PM Jul 2024

Trump trying to bully the Fed to stop anticipated interest rate cuts before election because it would "boost Biden"

Carl Quintanilla @carlquintanilla
“.. Trump told the publication that cutting interest rates before the November election would boost the economy and President Joe Biden’s odds of victory. ‘It’s something that they know they shouldn’t be doing,’ Trump said ..”

https://barrons.com/articles/trump-powell-federal-reserve-rate-cuts-september-125e8255



Ben Meiselas @meiselasb 24m
Trump threatening the Fed Chair in order to hurt Americans and help him. Trump threatened Republicans and stopped a bipartisan immigration deal to hurt Americans and help him. I see a pattern.

...all Trump and republicans do is obstruct American progress for their own personal or political benefit, time and time again.
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Trump trying to bully the Fed to stop anticipated interest rate cuts before election because it would "boost Biden" (Original Post) bigtree Jul 2024 OP
Let's hope Powell doesn't listen. These rates should have dropped already FloridaBlues Jul 2024 #1
Does Powell work for Trump or the American people? Irish_Dem Jul 2024 #2
We asked the SCOTUS the same question for months before the imunity ruling Bengus81 Jul 2024 #15
Running out of hope. mountain grammy Jul 2024 #3
I fear Powell listens to the oligarchs nt Wicked Blue Jul 2024 #12
Same with the budget deficit. Qutzupalotl Jul 2024 #4
Here in Florida ScratchCat Jul 2024 #8
Oh well atreides1 Jul 2024 #10
Trump appointed him ScratchCat Jul 2024 #5
Biden should cut the rate to zero in October. Takket Jul 2024 #6
The administration has been quietly using the strategic petroleum reserve to stabilize prices Trekologer Jul 2024 #9
True...and Biden gets ZERO CREDIT for lowering prices at the pump and then buying Oil LOW to refill Bengus81 Jul 2024 #17
Thanks for posting this, gab13by13 Jul 2024 #7
All indications point to a cut in September Fiendish Thingy Jul 2024 #14
These actions will hurt him, I predict. Nt BootinUp Jul 2024 #11
The DOW is rocking at 41188 Historic NY Jul 2024 #13
Yeah... but Biden needs to go. Just ask Schiff,Riner and Clooney and dozens of other Dem reps. Bengus81 Jul 2024 #18
An effin evil piece of shit malaise Jul 2024 #16

Bengus81

(8,532 posts)
15. We asked the SCOTUS the same question for months before the imunity ruling
Thu Jul 18, 2024, 10:12 AM
Jul 2024

We found out and my guess is Powell will do the exact same to keep his job. He said last Nov or so that cuts would be coming in early 2024.

Hmmm...wonder who called him and nixed those cuts? I'll bet $20 those cuts will NOT arrive in the fall. If FAT HITLER gets in the interest rate will start dropping the day after the inauguration.

Qutzupalotl

(15,315 posts)
4. Same with the budget deficit.
Wed Jul 17, 2024, 12:27 PM
Jul 2024

Drunken sailors under Repubs, but when a Democrat is president, no spending is allowed, and suddenly we have to make draconian cuts to programs that actually help people.

ScratchCat

(2,635 posts)
8. Here in Florida
Wed Jul 17, 2024, 12:31 PM
Jul 2024

DeSantis has taken most of the "green" grant money and arranged to have it funneled to rich land owners in the form of conservation easements(read: rich man's boondoggle). You know, the money they pitched a fit over. They do this every time down here - complain about spending and then take the money and give it to the wealthy.

atreides1

(16,597 posts)
10. Oh well
Wed Jul 17, 2024, 12:37 PM
Jul 2024

And still the people of Florida vote for a Republican majority...and continue to do so, because their hatred of the left is even more important then their own children!!!

ScratchCat

(2,635 posts)
5. Trump appointed him
Wed Jul 17, 2024, 12:29 PM
Jul 2024

Its a good thing Powell doesn't have to fear what Trump might do to him if Trump becomes POTUS again.

Oh, wait....

Takket

(22,928 posts)
6. Biden should cut the rate to zero in October.
Wed Jul 17, 2024, 12:31 PM
Jul 2024

And release the entire strategic petroleum reserve. Make gas cost ten cents a gallon. I’m being somewhat facetious but this country is fighting for its existence and if Biden can do some impactful things in October to sway even 1% of people, that could win the election.

Trekologer

(1,075 posts)
9. The administration has been quietly using the strategic petroleum reserve to stabilize prices
Wed Jul 17, 2024, 12:37 PM
Jul 2024

The reserve has been releasing oil when the market price ticks up (pushing it back down again) and then buying to refill it when the market price drops back down. It has both stabilized gas prices and cut the legs out from under OPEC.

Bengus81

(8,532 posts)
17. True...and Biden gets ZERO CREDIT for lowering prices at the pump and then buying Oil LOW to refill
Thu Jul 18, 2024, 10:16 AM
Jul 2024

It's a genius plan but of course no credit. Instead the MAGA idiots like Kansas Rep Ron Estes claims the reserve is empty.

gab13by13

(27,399 posts)
7. Thanks for posting this,
Wed Jul 17, 2024, 12:31 PM
Jul 2024

I have been posting this for a couple of months about whether Powell will lower rates before or after the election.

I did a post a year ago calling one of Powell's reports, negative Fed speak which caused the markets to drop, I was really criticized for that one.

TSF also threatened House Magats to trash the border deal that was all ready to pass Congress because TSF wanted chaos at the border.



Fiendish Thingy

(19,023 posts)
14. All indications point to a cut in September
Wed Jul 17, 2024, 01:55 PM
Jul 2024

There is little to no data to justify holding rates steady, or to indicate the fed won’t cut.

Powell’s cautious words this year have not caused any lasting drop in the market, as evidenced by the continued record setting highs we have seen over the past several months.

It seems that Powell is onboard the Bidenomics train to national prosperity.

Historic NY

(38,738 posts)
13. The DOW is rocking at 41188
Wed Jul 17, 2024, 12:47 PM
Jul 2024

Trump like to brag but Bidens economy is still rocking adding over 10k to the Dow sicne he took office. The US is dragging the sagging European economy along also

Bengus81

(8,532 posts)
18. Yeah... but Biden needs to go. Just ask Schiff,Riner and Clooney and dozens of other Dem reps.
Thu Jul 18, 2024, 10:17 AM
Jul 2024

Sickening...............

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