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Trump blaming FED for economic slowdown is disingenuous

Posted on 10/24/18 at 11:24 am
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 10/24/18 at 11:24 am
The stock market has had a bad October and even though a few companies have reported good earnings this week many have not. Many have mentioned international softness in their business and have warned on future earnings because of tariff impacts.

Very few have have mentioned interest increases as a coming problem.

The facts are that interest rates have been artificially low for 8 years and are still lower than normal. While Powell has raised rates it not something that really surprised people.

It is disingenuous IMHO for Trump to criticize Powell over the economy when he has put the bigger damper of future earnings with his enormous proposed tariffs. He did fire Yellen and he did hire Powell.

I think Americans would appreciate a more honest expression of the facts. Whats wrong with Trump saying "Yeah I know earnings are coming down but we have to have this trade war for (insert whatever reason)" instead of simply pounding on his choice to run the FED who is doing almost exactly what every one expected the FED to do this year and next?

I guess he has enough supporters who believe the tariffs are a small issue and believe whatever he says that he sees no reason to be more truthful when he comments.
This post was edited on 10/24/18 at 12:25 pm
Posted by Blob Fish
Member since Mar 2016
3091 posts
Posted on 10/24/18 at 11:25 am to
First downvote
Posted by Summer of George
Baton Rouge
Member since Apr 2010
5995 posts
Posted on 10/24/18 at 11:25 am to
Didn’t read. Auto downvote.
Posted by HeyHeyHogsAllTheWay
Member since Feb 2017
12458 posts
Posted on 10/24/18 at 11:25 am to
IB Freeman, you're an idiot. Trump didn't blame the Fed for anything. He merely gave his OPINION that raising the rates now would slow the economy down.

Posted by DarthRebel
Tier Five is Alive
Member since Feb 2013
21230 posts
Posted on 10/24/18 at 11:26 am to
quote:

I B Freeman

Posted by Jjdoc
Cali
Member since Mar 2016
53435 posts
Posted on 10/24/18 at 11:26 am to
Can I just say... LMAO!!!

You will live sir. AMERICA FIRST.
Posted by Seldom Seen
Member since Feb 2016
39990 posts
Posted on 10/24/18 at 11:26 am to
Melt!
Posted by Brosef Stalin
Member since Dec 2011
39164 posts
Posted on 10/24/18 at 11:27 am to
quote:

I think Americans would appreciate a more honest expression of the facts.

I disagree. Americans don't want honesty unless it fits their narrative.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 10/24/18 at 11:27 am to
quote:

President Donald Trump directly accused Federal Reserve Chairman Jerome Powell of endangering the U.S. economy by raising interest rates, according to The Wall Street Journal.

"I'm just saying this: I'm very unhappy with the Fed because Obama had zero interest rates," Trump told the Journal on Tuesday. "Every time we do something great, he raises the interest rates."

The president said Powell "almost looks like he's happy raising interest rates," but declined to elaborate, according to the Journal.


Looks to me like he thinks the FED is picking on him.
Posted by DallasTiger11
Los Angeles
Member since Mar 2004
11804 posts
Posted on 10/24/18 at 11:27 am to
For once I agree with you. Trump is positioning himself to blame the Fed for anything bad that happens in the economy so he can shirk responsibility.

It’s even worse when you consider he hired Powell. Why does Trump continue to make bad hire after bad hire?
Posted by 225bred
COYS
Member since Jun 2011
20386 posts
Posted on 10/24/18 at 11:27 am to
Posted by bamafan1001
Member since Jun 2011
15783 posts
Posted on 10/24/18 at 11:28 am to
TDS
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 10/24/18 at 11:28 am to
That is probably true based on the posters here.
Posted by Hickok
Htown
Member since Jan 2013
2858 posts
Posted on 10/24/18 at 11:28 am to
Why were interest rates artificially low the past 8 years? To prop up obamas enconomy? So now that Trump has unleashed the economic power of America it's the (((Feds))) job to increase the rates again? Any reasoning behind why the fed seems to be politicized?
Posted by tiggerthetooth
Big Momma's House
Member since Oct 2010
61111 posts
Posted on 10/24/18 at 11:29 am to
quote:

For once I agree with you. Trump is positioning himself to blame the Fed for anything bad that happens in the economy so he can shirk responsibility.



Did the FED keep interest rates low under Obama and raise them under Trump? True or false?
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
69247 posts
Posted on 10/24/18 at 11:29 am to
The trade war is not to blame for the October decline

Tariffs have been baked in since February.

Why would tariffs JUST NOW influence the stock market? That violates efficient market hypothesis
Posted by 225bred
COYS
Member since Jun 2011
20386 posts
Posted on 10/24/18 at 11:29 am to
quote:

I B Freeman



This guy has autism or Aspergers right?
This post was edited on 10/24/18 at 11:30 am
Posted by Tractor Tug60
South Texas
Member since Apr 2018
3060 posts
Posted on 10/24/18 at 11:29 am to
Downvote # 26
Posted by Nguyener
Kame House
Member since Mar 2013
20603 posts
Posted on 10/24/18 at 11:30 am to
You moved on from Tarrifs or is this in addition to?
Posted by DallasTiger11
Los Angeles
Member since Mar 2004
11804 posts
Posted on 10/24/18 at 11:30 am to
(no message)
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