Author Topic: In 3 Months Fed Chair Jerome Powell Just Destroyed Trump Economy – Dow Lost Over $4 Trillion in Valu  (Read 1803 times)

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Online mystery-ak

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In 3 Months Fed Chair Jerome Powell Just Destroyed Trump Economy – Dow Lost Over $4 Trillion in Value – FIRE HIM ALREADY!
 by Jim Hoft December 20, 2018

Since October The Fed has single-handedly dismantled the US economy.  The Trump tax cuts at year end 2017 set the economy on fire. The US stock markets set numerous records. So the Fed had to step in and kill the economy or, God forbid, he would get re-elected in 2020!

The Fed announced on Wednesday afternoon that they will increase rates and will also increase rates next year.  The Dow immediately dropped 720 points in 10 minutes.  The DOW was down at one point by 894 points!

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https://www.thegatewaypundit.com/2018/12/in-3-months-fed-chair-jerome-powell-just-destroyed-trump-economy-dow-lost-over-4-trillion-in-value-fire-him-already/
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Offline ABX

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Trump and Republicans were saying through most of Obama's administration (and even back to Bush's administration) that the fed keeping the interest rates at almost 0, well below inflation, was a timebomb waiting to happen and unnecessary currency manipulation. They were right. The Fed was artificially propping up the market and creating a market bubble. However, now that they are bringing it slowly back in line with inflation (as interest rates should be if we are to have a Fed) they are complaining about the same thing they demanded- just because it makes their guy look bad.

Offline RoosGirl

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Fed Chair Jerome Powell nominated by who?

Online Wingnut

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This guy makes Andrea Mitchel's hubby look like a genius.
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Offline Free Vulcan

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We've had a huge multiyear exuberance top. The froth needed to come off the market, simple as that. I think the Fed played crappy pool the way they went about it, but it still needed to happen.
The Republic is lost.

Offline Absalom

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In Parliamentary Governance, such as the UK, the Exchequer
controls monetary policy and is managed by the party in power.

Online DB

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I'm sure it has nothing to do with tariffs that disrupted numerous businesses...

Or the massive deficit spending that can't continue...

Or the Dems taking control of the house due to GOP inaction or doing the opposite of what they campaigned on previously...

Business hates uncertainty and we have heaping loads of it now...

Offline Frank Cannon

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This guy makes Andrea Mitchel's hubby look like a genius.

It doesn't matter who nominates anyone for shit. 5 minutes after they get the job they do whatever the hell they want.

BTW most of the Dow issues up and down are because there aren't traders making decisions anymore. Wall Street is run by computers and algos to squeeze a fraction of a cent out of a trade a billion times over in a nanosecond.

Offline RetBobbyMI

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Abolish the Fed. It serves no purpose.
"Life is tough, but it's tougher when you're stupid."  -- John Wayne
"Talk sense to a fool and he calls you foolish.� ? Euripides, The Bacchae
"Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.� ? Laurence J. Peter, The Peter Principle
"A stupid man's report of what a clever man says can never be accurate, because he unconsciously translates what he hears into something he can understand.� ? Bertrand Russell, A History of Western Philosophy

Offline Drago

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The Fed is still 2-3% low...

Online kevindavis007

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I'm sure it has nothing to do with tariffs that disrupted numerous businesses...

Or the massive deficit spending that can't continue...

Or the Dems taking control of the house due to GOP inaction or doing the opposite of what they campaigned on previously...

Business hates uncertainty and we have heaping loads of it now...


I'm leaning Tariffs..
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Online kevindavis007

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In Parliamentary Governance, such as the UK, the Exchequer
controls monetary policy and is managed by the party in power.


Do you really want the Dems to control the Monetary policy??
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Online kevindavis007

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Fed Chair Jerome Powell nominated by who?


I that the Deep State put him there..
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Offline Night Hides Not

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You can avoid reality, but you cannot avoid the consequences of avoiding reality.

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