SINCE OCTOBER JEROME POWELL HAS SINGLE-HANDEDLY DISMANTLED THE US ECONOMY.
Since his careless comments and promises to continue rate hikes in his October 3rd speech the economy has plunged 4,500 points — 1/6th of the US economy has been wiped out.
The Trump tax cuts at year end 2017 set the economy on fire. The US stock markets set numerous records. So the Fed had to step in and kill the economy and punish the Middle Class or President Trump would get re-elected in 2020.
The Fed announced this past Wednesday afternoon that they will increase rates again and will also increase rates next year. The Dow immediately dropped 720 points in 10 minutes. The DOW was down at one point by 894 points!
Holy crap!! Somebody get this guy off the stage! Dow drops 894 points since Fed Chairman Powell took the stage!! pic.twitter.com/SKdEZkZFpt
— The Gateway Pundit (@gatewaypundit) December 19, 2018
The Dow Jones has dropped nearly 4,500 points since the Fed’s Jerome Powell’s insidious comments in early October to guarantee interest rate increases from now till infinity.
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.
Over $4 Trillion in Wealth has been erased!
As a result of Fed Chief Powell’s actions, Americans have watched their 401k’s dissolve into thin air.
On Saturday The Gateway Pundit reported that President Trump discussed firing disastrous Fed Chair Jerome Powell.
It’s about time.
On Sunday FOX and Friends reported on the news that the White House is discussing ditching Powell.
Treasury Secretary Steven Mnuchin tweeted about Powell’s future on Saturday.
The President Is NOT PLEASED!
PRESIDENT TRUMP: “I totally disagree with Fed policy. I think the increasing of interest rates and the shrinking of the Fed portfolio is an absolute terrible thing to do at this time, especially in light of my major trade negotiations which are ongoing, but I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so.”
(1/2) I have spoken with the President @realDonaldTrump and he said “I totally disagree with Fed policy. I think the increasing of interest rates and the shrinking of the Fed portfolio is an absolute terrible thing to do at this time,…
— Steven Mnuchin (@stevenmnuchin1) December 22, 2018
(2/2) especially in light of my major trade negotiations which are ongoing, but I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so.”
— Steven Mnuchin (@stevenmnuchin1) December 22, 2018
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