'Our bigger enemy': Trump escalates attack on Fed chief

[Elderberry]

Houston Chronicle by MARTIN CRUTSINGER 8/23/2019

President Donald Trump launched a furious and highly personal Twitter attack Friday against the Federal Reserve and Chairman Jerome Powell, fuming that the Fed once more "did NOTHING!" and wondering who is "our bigger enemy" — Powell or China's leader.

The outburst came after Powell, speaking to central bankers in Jackson Hole, Wyoming, gave vague assurances that the Fed "will act as appropriate" to sustain the nation's economic expansion. While the phrasing was widely seen as meaning interest rate cuts, he offered no hint of whether or how many reductions might be coming the rest of the year.

Powell had barely finished speaking before Trump escalated his criticism of the Fed, which he has repeatedly accused of keeping rates too high. For months, the president has ridiculed Powell, the man he picked to lead the Fed.

"As usual, the Fed did NOTHING!" Trump tweeted, adding, "We have a very strong dollar and a very weak Fed." He went further by saying: "My only question is, who is our bigger enemy, Jay Powel (sic) or Chairman Xi?" — a reference to China's President Xi Jinping. Trump later corrected the name spelling.

Asked by reporters late Friday if he wanted Powell to resign, Trump responded, "Let me put it this way: If he did I wouldn't stop him."

Powell has said he has no intention of resigning before his four-year term is up.

While the "enemy" remark appeared to elevate Trump's attacks on the Fed to a new level, Fed officials meeting in Jackson Hole sought to play down the comment.

More: https://www.houstonchronicle.com/news/article/Investors-hope-Powell-s-speech-offers-clarity-14372399.php

[NavyCanDo]

I expect his Twitter tantrum will continue all weekend. There is only one candidate running that can beat Trump in 2020 removing him from the White House, and that is Trump himself, and he's doing a damn good job at that lately.

[Applewood]

I expect his Twitter tantrum will continue all weekend. There is only one candidate running that can beat Trump in 2020 removing him from the White House, and that is Trump himself, and he's doing a damn good job at that lately.

Exactly.  This is all a bullying campaign to get Mr. Powell to leave.  Trump always has to have a scapegoat for whatever goes wrong and today, it's Mr. Powell.  Trump's supporters will follow their leader and put blame on Mr. Powell if the economy takes a nosedive, but those of us who know better will look to Trump and his trade war as the cause of our financial misery.  This does not bode well for a Trump re-election, for he will need more voters than his faithful followers, and if the economy goes south, he won't get those voters.  Blaming Mr. Powell won't work.

[jmyrlefuller]

And yet he nominated the guy. Whose fault is that?

[Applewood]

And yet he nominated the guy. Whose fault is that?

Well, Trump does hire the best people.  He said so. 

If Mr. Powell leaves -- maybe Trump can see if Omarosa is available.   

[goatprairie]

 

And yet he nominated the guy. Whose fault is that?

Has Trump ever admitted  to being responsible for anything that has gone wrong in his life? I doubt it. He's a super narcissist.

[Night Hides Not]

22222frying panHas Trump ever admitted  to being responsible for anything that has gone wrong in his life? I doubt it. He's a super narcissist.

My apologies for repeating myself, but my disdain for leaders who cannot take responsibility for their actions goes way back to my days as a platoon leader. Anyone who has ever been a platoon leader, company/battery commander, etc. can cite verbatim what's in the Leader's Handbook:

Everything my unit does or fails to do is my responsibility, and mine alone.

I heard that from those in my chain of command. They wouldn't allow any excuses as to why a particular job or mission couldn't be accomplished successfully.

If it's good enough to expect that from 2nd Lieutenants, it's certainly applicable to the Commander in Chief.

[txradioguy]

But you have to wonder what he's doing at the Fed.  For 8 years under Obama the interest rate was raised once.  In the last almost three years it's been raised 6 times even with warning it could slow the economy.

[Sanguine]

But you have to wonder what he's doing at the Fed.  For 8 years under Obama the interest rate was raised once.  In the last almost three years it's been raised 6 times even with warning it could slow the economy.

Yes, you do.