[tomder55]

I basically agree with Trump's critique of the Fed's record under Jerome Powell's watch. (remember inflation is transitory ? He said that as a partisan giving Dem talking points )

Inflation has increased notably in recent months. This reflects, in part, the very low readings from early in the pandemic falling out of the calculation; the pass-through of past increases in oil prices to consumer energy prices; the rebound in spending as the economy continues to reopen; and the exacerbating factor of supply bottlenecks, which have limited how quickly production in some sectors can respond in the near term. As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal.

Statement by Chair Powell on the Federal Reserve's response to the coronavirus pandemic

Well I think the Fed over the years has had a p*ss poor record . Yes; Powell I believe is partisan and has added a goal to the agenda beyond the Fed's mandate of fixing inflation and unemployment


But Trump is not without fault . His on again off again tariffs ;with their shifting rationale and goals are hurting the economy . And his timing is horrible. Now is not the time to add more uncertainty to the markets by picking a fight with Powell.

US stocks and dollar slide after Trump attacks Fed chair Powell

Tariffs are a tax increase any way you slice or dice. They are anti-growth which flies in the face of Trump's desire for pro-growth .

Trump wants Powell to lower rates which would likely increase inflationary pressure. But Trump's tariffs and threats of tariffs are already increasing inflation. That's Powell's concern ....well that and the pressure the dollar is under as Trump's tariff's are causing a dumping of the dollar on the world trading market .

Trump is threatening to fire Powell. I don't believe he has the authority to do so. Does he also plan on firing the whole Federal Open Market Committee ? Powell doesn't set rates by himself.


There are many reasons to dump Powell and all the crooks in the Fed system.(insider trading for themselves and cronies )

Watchdog critical of former Fed officials in stock trading controversy

A Federal Reserve President Spoke at an Invite-Only, Off-Record Bank Client Event - The New York Times

Powell’s leadership has manifested in a culture of corruption that has cast a shadow over the Fed’s decision-making, and led to scandal after scandal.

U.S. Senator Elizabeth Warren | Warren Slams Powell for C...

But this is not the time . American's personal wealth is being drained as they snipe .

[tomder55]

Yesterday the Fed again held interest rates steady . Trump desperately wants the Fed to lower rates so he can pay off the debt with them .

The Fed in return is holding back ;not because of political differences as Trump suggests ;but in extreme caution of what Trump's tariffs will do to the economy.

The recent numbers suggest a slow down
Housing start ups have slowed . Americans have put away their wallets
The Fed lowered the GDP growth predictions from a weak 1.7% to 1.4% ...... and they slightly increased their unemployment predictions .

Wait ! Doesn't that make a case for a rate cut ? Yes it does . But it is what will happen with the tariffs that concerns them most . They are predicting an INCREASE in the rate of inflation beyond their target due to the tariffs .

They got burned by Clueless Joe's "transitory inflation " that came from printing monopoly bucks to finance the green new steal . As the saying goes 'once burned twice shy'.
They have no intention of making that mistake again. While some on the Fed are still forecasting rate cuts in the last 2 quarters of the year ; more of them are coming to the conclusion that would be unwise.

While Trump calls Powell names and threatens to fire him; Trump should understand the role his tariffs are playing in their decision.