On Tuesday, Federal Reserve Chairman Jerome Powell, a crazed Trump-hater, sat before the Senate Banking Committee to answer questions about his disastrous tenure as FED Chairman.
Powell told the Banking Committee that he will not cut interest rates because inflation “might rise” in the coming months.
Last week, President Trump lashed out at Jerome Powell for his refusal to lower interest rates despite the stellar US economic numbers. For some reason, Powell likes to screw working families when Trump is in office. It’s as if he doesn’t like Trump and hates the American worker?
As you see below from a historical interest chart, “Too Late” Jerome Powell and the Fed kept interest rates extremely low at 0.25% during most of Barack Obama’s administration.
Then when President Trump entered office with his pro-growth policies, Jerome Powell immediately began raising the interest rates to slow down the economy. At one point President Trump in his first term could have started to pay down the US debt because of the strength of his economy. Jerome Powell raised interest rates instead to make sure that didn’t happen.
Today, despite the strength of the Trump economy, Jerome Powell refuses to lower interest rates. This is truly unexplainable, especially when you consider where America stands in relation to the rest of the world.
President Trump lashed out at Powell last Thursday, for his irresponsible and dangerous policies. Powell is targeting and punishing the American worker.
On Tuesday, before Powell’s hearing, President Trump posted this rant on TRUTH Social.
“Too Late” Jerome Powell, of the Fed, will be in Congress today in order to explain, among other things, why he is refusing to lower the Rate. Europe has had 10 cuts, we have had ZERO. No inflation, great economy – We should be at least two to three points lower. Would save the USA 800 Billion Dollars Per Year, plus. What a difference this would make. If things later change to the negative, increase the Rate. I hope Congress really works this very dumb, hardheaded person, over. We will be paying for his incompetence for many years to come. THE BOARD SHOULD ACTIVATE. MAKE AMERICA GREAT AGAIN!
Powell is the same dummy who said the record inflation was transitory during the Biden years. Inflation reached 40 year highs.
Why does this dummy still have a job?
President Trump attached this chart to his post last week.
Powell refuses to cut interest rates. He’s playing politics with American lives.
Via Midnight Rider.
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