Jerome Powell, arguably one of the worst and most politicized leaders of the Fed in history, announced on Wednesday that he will not drop rates to help lift the economy despite the recent excellent economic news.
Powell and the Fed will keep interest rates at 4.25% to 4.5%, according to USA Today.
Powell told reporters the “economy is doing fine,” but “the right thing to do is to await further clarity.”
What a disaster.
President Trump slammed the failed Federal Reserve Chair Jerome Powell in April after Powell hinted at delaying interest rate cuts.
Trump called for Powell’s termination before he does any more damage to the lives of tens of millions of American workers.
President Trump: The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!
President Trump is right. Jerome Powell is a disaster. The only question is whether this is intentional or if he is just that inept.
Looking back at Trump’s first term, the US economy and markets hit several historic records in 2018. President Trump was correct in his policy, and the economy had never been stronger.
Then, in October, Federal Reserve Chairman Jerome Powell stepped in and destroyed the outstanding gains.
The market tanked, the Dow Jones dropped over 5,000 points, the middle class was decimated, and the global markets were in chaos. Jerome Powell’s stock market crash was GREATER THAN the market crash after 9-11. The guy is a dangerous lunatic.
The Dow sank 5,036 points in December 2019 from its all-time high on October 3, 2018.
Jerome Powell’s comments on October 3rd and continuing promises of rate hikes caused the Dow Jones to sink 18.7%.
The Dow crashed over 5,000 points, or 18%, thanks to Powell. Democrats were pleased.
The stock market crashed 14% after the 9/11 Islamic attacks on America.
The DOW reached another all-time high on October 3, 2018, reaching 26,829. It was up for the 103rd time since Donald Trump was elected President and 46% since the November 2016 election.
This was clearly too much for the Fed’s Powell who then scared investors with his message that he will raise rates well into next year.
Over $5 trillion in wealth was erased!
As a result of Fed Chief Powell’s actions, Americans watched their 401(k)s dissolve into thin air.
The Powell Stock Market Crash was greater than the 9/11 Attack Stock Market Crash!
In Trump’s first term, Jerome Powell added billions of new debt to the US economy. He stalled the Trump market surge. He decimated 401k’s.
He eliminated trillions of dollars in wealth. And he also managed to bring the economy to a halt. The GDP number did not hit 3.0%
Jerome Powell has a long history of failure and terrible calls that have resulted in average Americans losing money and suffering due to his mistakes.
Jerome Powell is a dangerous lunatic and screwed this president and the American people.
Get rid of this clown.
UPDATE: President Trump responded to “fool” Jerome Powell’s latest antics.
The post FED Chairman Jerome Powell Screws Trump and America Once Again – Refuses to Drop Rates Despite Amazing Economic News – TRUMP RESPONDS appeared first on The Gateway Pundit.