President Donald Trump said he expected Jerome Powell to be a cheap-money Fed chairman and lamented to wealthy Republican donors at a Hamptons fundraiser on Friday that his nominee instead had raised interest rates, according to three people present… “During this period of time I should be given some help by the Fed. The other countries are accommodated,” he told the news service. He said he would keep up his criticism of the central bank if it continued to raise rates.
That Prznint Stupid does not understand inflation does not surprise me, and that he does not understand what his Billions for Billionaires tax cuts did does not surprise me. That Prznint Stupid does not know (or care) that the Fed is independent seems absolutely in line with his thinking he is the King of Murika.
Here are some other choice quotes from Prznint Stupid:
“I don’t have an accommodating Fed. Am I happy with my choice? I’ll let you know in four years. I’ll let you know in seven years.”
“I’m not thrilled with his raising of interest rates. No, I’m not thrilled. We’re at a – we’re negotiating very strongly – I don’t call it a trade war – we’re negotiating very powerfully and strongly with other nations. We’re going to win. But during this period of time, I should be given some help by the Fed.”
And my personal favorite as he sets up Powell and the Fed to take the blame as he throws more gasoline onto the fire:
“I believe in the Fed doing what’s good for the country.”
Which seems odd, considering Comrade Trump is doing everything he can to wreck the country.