Charles Payne went on Varney and Co. on Friday morning to discuss the latest GDP number and booming Trump economy.
Charles blamed Federal Reserve Chairman Jerome Powell for “crushing the economy” with his remarks on October 3rd. Since that time the Dow Jones has dropped over 2000 points!
Trump is right to be angry at this hacks who are ruining the president’s magnificent economic gains.
Charles Payne: Two things again that move markets sentiment and fundamentals. The sentiment I think the Fed ruined it. I think Powell crushed this market on October 3rd. Powell crushed this market. Look at October 3rd and look what’s happened since then.
The Dow dropped over 200 points since Powell’s comments on raising the rates.
What an idiot.
Via Varney and Co.:
President Trump is right to be upset about the Fed and their hysterical increases as soon as he was elected President. Since his election win, the Fed has increased the Fed Funds rate 7 times! By comparison, the Fed only increased the Fed Funds rate under Obama once during his 7th year in office.
The Fed kept rates at zero percent for much of Obama’s Presidency!