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Trump Trashes Federal Reserve: ‘Only Problem Our Economy Has’

Posted by EU Times on Dec 24th, 2018 // No Comment

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The only problem with the U.S. economy is the Federal Reserve central bank, President Trump said Monday.

“The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!” he tweeted.

Trump has been critical of the Fed since it began hiking interest rates and shrinking its balance sheet, resulting in stock market corrections that have wiped out all the gains for 2018.

“I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more illiquid than it already is. Stop with the 50 B’s. Feel the market, don’t just go by meaningless numbers. Good luck!” he tweeted last week.

Treasury Secretary Steven Mnuchin spoke with the CEOs of America’s six largest banks, seeking reassurance that the economy can handle the Fed’s tightening policies.

Mnuchin also spoke with banking regulators from the Fed, FDIC and SEC on Monday, and was assured that the market was experiencing “nothing out of the ordinary.”

But as economist Peter Schiff noted, the Fed will only continue raising interest rates until the bubble bursts and the economy plunges into recession.

The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!

— Donald J. Trump (@realDonaldTrump) December 24, 2018

I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more illiquid than it already is. Stop with the 50 B’s. Feel the market, don’t just go by meaningless numbers. Good luck!

— Donald J. Trump (@realDonaldTrump) December 18, 2018

Today I convened individual calls with the CEOs of the nation's six largest banks. See attached statement. pic.twitter.com/YzuSamMyeT

— Steven Mnuchin (@stevenmnuchin1) December 23, 2018

The Fed has basically told the market that they will continue to raise rates until a recession takes place. https://t.co/N0ecogblEc

— Peter Schiff (@PeterSchiff) December 24, 2018

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Read More Stories About: Banks, Debt, Donald Trump, Federal Reserve System, Rand Paul, Recession, Steven Mnuchin, Trade, U.S. Dollar

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