Trump expresses fresh regret about his Fed chief: 'Oh well, you can't win them all!'

[brooklynite]

This discussion thread was locked as off-topic by Omaha Steve (a host of the Latest Breaking News forum).

Source: Politico

President Donald Trump on Friday offered his latest broadside against his handpicked Federal Reserve chairman, asking, “Where did I find this guy Jerome?”

“I agree with @jimcramer, the Fed should lower rates. They were WAY too early to raise, and Way too late to cut - and big dose quantitative tightening didn’t exactly help either,” Trump tweeted. “Where did I find this guy Jerome? Oh well, you can’t win them all!”

The president has repeatedly assailed Jerome Powell for hiking interest rates as the economy has continued to recover from the financial crisis a decade ago. But he has dramatically escalated his attacks as signs have emerged that the U.S. could be headed for a recession next year — a development that could blunt his reelection effort.

Trump has publicly said he has the right to fire Powell, telling the Fox Business Network in June, “I have the right to demote him. I have the right to fire him,” while adding that he had “never suggested” following through.

Read more: https://www.politico.com/story/2019/09/06/donald-trump-jerome-powell-federal-reserve-1483197

[Thomas Hurt]

1. yeah damn him for looking out for the economy and not getting your fascist @## re-elected.

[3Hotdogs]

2. Someone tracked Jim Cramer's track record a few years ago.

70% wrong. Unlike Trump --- 100% wrong.

[underpants]

3. Tired of not winning

[Cracklin Charlie]

4. Powell not paying tribute?

Got it.

Assface is transparent like Oval Office window.

[cstanleytech]

5. In other words he wants the fed to prop up an economy that Trump damaged with his trade war.

[TeamPooka]

10. actually if rates are cut Trump will make millions based on his real estate financing...

Trump’s company could save millions if interest rates fall as he demands
https://www.washingtonpost.com/politics/trumps-company-could-save-millions-if-interest-rates-fall-as-he-demands/2019/08/24/5e5df684-c5a9-11e9-b5e4-54aa56d5b7ce_story.html

President Trump stands to save millions of dollars annually in interest on outstanding loans on his hotels and resorts if the Federal Reserve lowers rates as he has been demanding, according to public filings and financial experts.

In the five years before he became president, Trump borrowed more than $360 million via four loans from Deutsche Bank for his hotels in Washington, D.C., and Chicago, as well his 643-room Doral golf resort in South Florida.

The payments on all four properties vary with interest rate changes, according to Trump’s official financial disclosures. That means he has already benefited from falling interest rates that were spurred in part by a cut the Federal Reserve announced in July, the first in more than a decade — and his payments could drop by millions of dollars more annually if the central bank grants Trump’s wish and further lowers short-term rates, experts said.

“It will reduce his borrowing costs quite a bit if he gets what he wants,” said Phillip Braun, a finance professor at Northwestern University’s Kellogg School of Management. Braun said Trump’s savings could be even greater if Deutsche Bank permits his company to pay down the loans more quickly without a penalty, which banks sometimes allow.

more at link...

Straight up corrupt.

[cstanleytech]

12. If Obama or Clinton were doing that the Repugnants would be beating the impeachment drum.

[Turbineguy]

6. Yeah, try as he may,

every so often trump fails to fuck up.

[BlueStater]

7. What a dork.

Dumbass.

[bucolic_frolic]

8. But wage inflation is on the order of 3.2 to 3.8% reported today

So the FED was thoroughly appropriate in raising interest rates, and should continue to do so over the next 12 months.

Trump is just into everybody's business.

Powell is not my choice, but he's a respected banker and experienced in Econometrics like all the other members of the Fed's policymaking committee.

Trump just tries to run the table on everything, especially over things he knows little about, to suit his own objectives.

"You catch more flies with honey, Donald!"

[keithbvadu2]

9. Pay attention to Trump when he says the economy is going down the drain if he is not reelected. He

Pay attention to Trump when he says the economy is going down the drain if he is not reelected.

He is telling us what shape he will leave the country in.

Despite his excuses, Trump gets full credit for any bad in the economy just as he takes full credit for any good in the economy.

[Yo_Mama_Been_Loggin]

11. He's not your lacky dotard.

The Fed is supposed to be independent.

[Omaha Steve]

13. After a review by forum hosts....LOCKING

More criticism of Jerome Powell, not important.