Trump accuses the Fed of making a 'big mistake' with its interest rate hikes

[DonViejo]

Source: Politico



By CAITLIN OPRYSKO 06/10/2019 11:01 AM EDT

President Donald Trump ripped into the Federal Reserve Monday, accusing the central bank of making a “big mistake” with its interest rate hikes while suggesting that current Fed policy was undermining him in negotiations with China.

In an interview on CNBC’s “Squawk Box,” Trump tried to shift blame away from his administration for the actions of the Federal Reserve board, and said that whatever the reason for their decision not to go forward with expected rate hikes, it wasn’t because they were heeding his advice.

“We have people on the Fed that really weren’t — they’re not my people, but they certainly didn’t listen to me because they made a big mistake. They raised interest rates far too fast,” Trump said, despite having appointed four of the five current members of the board. He has vowed to only install new members of the board who support rate cuts, but his last two picks withdrew from consideration after backlash from Congress.

In what seemed to be an effort to underscore his comments, Trump tweeted out a clip of them shortly after his appearance ended.

Read more: https://www.politico.com/story/2019/06/10/trump-federal-reserve-interest-rate-hikes-1358816

[keithbvadu2]

1. Mr Bankruptcy gives economics lessons.

Mr Bankruptcy gives economics lessons.

[duforsure]

2. This is just more lies from trump

And he's using that to blame when the economy tanks on him, and gives him his excuse to use and blame others with, because signs are clear its declining with trump policies behind the cause. He's projecting blame knowing its coming, and away from himself. Its something he's used many , many times before. Project blame onto others for his failures. Its one of his patterns, and does with his criminal activities also.

[C_U_L8R]

3. He appointed the Fed chair, Jay Powell

Now is he going to fire him?

[ScratchCat]

6. He can't fire him

And Powell has already commented on that.

[C_U_L8R]

7. Doesn't mean Trump won't try.

And he might find a loophole.
https://www.forbes.com/sites/patrickwwatson/2018/09/06/how-trump-could-fire-powell-and-rebuild-the-fed/#1c626e28586c

[Midnight Writer]

4. Damn it! He's on to us again. Trump is just too smart to be fooled.

He saw through our media assault immediately, then he spotted our Deep State shenanigans, and now he sees our global economic sabotage.

How will we ever keep America crappy with Trump calling out our every move?

[groundloop]

5. "They're not MY people (even though I appointed 80% of them)"

The fucking liar in chief just can't help himself, lying is as much an instinct to him as breathing.

Furthermore, where does someone who declared bankruptcy 6 times get the right to claim ANY knowledge of economics?

[murielm99]

12. MY people?

What are they? Serfs?

[DrToast]

8. Shorter Trump: The economy sucks and needs rate cuts

His comments kind of hurt is argument that the economy is booming.

[IronLionZion]

9. If the economy is so great, why does he need the Fed to help him with low rates?

maybe the economy is not as great as it may appear

[Nitram]

10. As an amateur real estate developer who relies on enormous loans, the only thing Trump

wants is low interest rates. That's the beginning and end of his "understanding" of economics.

[duforsure]

11. Is it because trump is so badly in debt?

And he would have to pay higher interest rates on all his loans is why he's trying in desperation to bully the fed chairman not to raise rates , costing him a lot more ? Sure looks like it. Wonder how many billions in debt he is? Is he so bad at business he has based it on conning others into giving him loans to falsely claim he's wealthy , and a good businessman? It will all come out and expose his lies, and show everyone he's not who he claims to be.