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Fed Chair Jerome Powell is TANKING the Trump miracle economy

(National SentinelWrecked: The Dow Jones Industrial Average fell another 500-plus points on Monday, adding to the 2,700 points the index has lost for the year.

That’s a total of about $4 trillion in wealth that’s been lost in the latter part of this year.

There is one man responsible for it and his name is not Donald Trump.

It’s Jerome Powell, the chairman of the Federal Reserve.

The Dow reached another all-time high on October 3rd reaching 26,829.  It was up for the 103rd time since POTUS Trump was elected and 46 percent since the November 2016 election.

Later that month Powell warned that the Fed would need to start aggressively raising interest rates in order to stave off ‘inflation,’ but there isn’t any runaway inflation and no reason to jack up rates that will also make it more expensive for the federal government to service its massive (and growing) debt.

Powell warned again on Monday that rate increases well into next year were necessary — again, to stave off imaginary inflation.

Per CNBC:

Federal Reserve Chairman Jerome Powell said the central bank has a ways to go yet before it gets interest rates to where they are neither restrictive nor accommodative.

In a question-and-answer session Wednesday with Judy Woodruff of PBS, Powell said the Fed no longer needs the policies that were in place that pulled the economy out of the financial crisis malaise.

“The really extremely accommodative low interest rates that we needed when the economy was quite weak, we don’t need those anymore. They’re not appropriate anymore,” Powell said.

“Interest rates are still acommodative, but we’re gradually moving to a place where they will be neutral,” he added. “We may go past neutral, but we’re a long way from neutral at this point, probably.”

POTUS Trump is furious and with good reason. This man is tanking the record-setting economy built by his pro-growth policies and the GOP tax reform legislation.

“It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike,” Trump said in a tweet on Monday. “Take the Victory!”

Before you say the president is just mouthing off again and that he doesn’t know what he’s talking about, check that and remember that before he was president he was a billionaire businessman with international reach. If any president in modern history has an expert’s grasp of the U.S. economy it’s POTUS Trump.

And he sees Jerome Powell tanking it — for some reason.

Perhaps it’s time for the president to find a Fed chairman who understands our economy as well as he does — before Powell wipes out trillions more in wealth that Americans are counting on for their retirement.

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6 Comments on Fed Chair Jerome Powell is TANKING the Trump miracle economy

  1. Get rid of the S.O.B. and appoint someone who knows what he’s doing and at the same time loves this country.

    • I agree wholeheartedly. It’s time to clean out the political dregs who revere their warped ideology more than they love this country. Enough of the infidels who would ruin things for everyone just to have their own, self-centered, near-sighted way!

  2. Jerome Powell is most likely a democrat which means he hates a strong economy and wants to destroy any of the gains made under Trump. All these progressives and democrats do is subvert the will of the people or at least over half of the good people in this country that voted for Trump and refused to vote for a criminal like HRC! This is a fight for the very last remnants of our free republic and if the deep state and these criminal socialist democrats win it will be the last nails in the coffin and this republic will fall just like Rome did.

  3. Jerome Powell may think he is, trying to effect the 2020 election, but I doubt he will be able to do it. And anyway, I welcome his efforts to cut off inflation before it starts. Once inflation gets a leg up, it becomes exceeding difficult to control. If the government really wants to control our debt, it can stop spending. Someone needs to keep an eye on the punch bowl. Lord knows it isn’t Wall Street, or the government. Isn’t that why we have a Fed?

  4. After 8 years of near zero rates, this is a blatant effort to hurt Trump.

  5. A guy goes to Las Vegas and sits down at a blackjack table with $10. After a long winning streak, he has $5000 in chips, which he loses on the next hand. Question is this: did the guy lose $5000, or did he lose $10? Just because the market has dropped doesn’t mean anyone has lost anything. Don’t jump yet.

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