After All Out Attack on Trump’s Economy and American’s 401K’s – Fed Decides Not to Raise Rates This Month
by Joe Hoft
TheGatewayPundit.com
November 29, 2018
After their all out attack on hard working American tax payers and the miraculous Trump economy, the Fed finally announced they wouldn’t increase interest rates this month.
The Fed yesterday finally announced that they were not going to increase interest rates this month –
“Federal Reserve Chairman Jerome Powell opened the door for a potential pullback in projected interest-rate hikes for 2019 following a widely expected increase in December.
In what was seen as a shift in tone from remarks last month, Powell said Wednesday that the Fed’s series of rate increases had brought policy to “just below” the range of estimates of neutral, where it neither spurs nor restricts the economy. He also noted that the economy had yet to feel the full impact of the hikes.
This is not true and Powell knows it. Powell’s efforts are the main enemy to the Trump economy. The President was not impressed
“So far, I’m not even a little bit happy with my selection of Jay,” Trump told the Post. “Not even a little bit. And I’m not blaming anybody, but I’m just telling you I think that the Fed is way off-base with what they’re doing.”
President Trump is right. The Fed’s actions to increase interest rates have stalled the stock market and are costing US tax payers trillions in current and future debt payments. The Fed provided former President Obama the most generous interest rate package ever. Rates under Obama remained at 0% most of his seven years in office. In late 2015, the Fed raised rates 0.25% but this was for only one year and the only time the rates were raised up to the 2016 election.
After President Trump won the election in 2016, the Fed started a steady program of raising interest rates. Rates were increased seven times by the Fed since the 2016 election to their current 2% – SEVEN TIMES!
The Rest…HERE
