JEROME POWELL SCREWS AMERICA: Dow Drops 2,500 Points Since Fed Chairman’s Insidious Threats to Raise Rates
by Joe Hoft
TheGatewayPundit.com
November 23, 2018
The Fed is clearly a political machine not working in the interest of President Trump or the American people. As a result of Fed policies Americans are being bound with massive interest payments on Obama debt for years to come.
The Dow Jones has sunk 2,500 points since the Fed’s Jerome Powell’s insidious comments in early October to continue to increase interest rates. The DOW reached another all-time high on October 3rd 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.
“Federal Reserve Chairman Jerome Powell said the central bank has a ways to go yet before it gets interest rates to where they are neither restrictive nor accommodative.
In a question-and-answer session Wednesday with Judy Woodruff of PBS, Powell said the Fed no longer needs the policies that were in place that pulled the economy out of the financial crisis malaise.
“The really extremely accommodative low interest rates that we needed when the economy was quite weak, we don’t need those anymore. They’re not appropriate anymore,” Powell said.
“Interest rates are still acommodative, but we’re gradually moving to a place where they will be neutral,” he added. “We may go past neutral, but we’re a long way from neutral at this point, probably.”
But there is no reason to raise rates (other than to kill the economy)!
The Rest…HERE
