WOW! Even CNBC’s Jim Cramer Agrees! – Fed Chair Powell “Trump’s Worst Nightmare” — Who the Hell Raises Rates w/Dow Down 12% in 3 Mos.?
Since October The Fed has single-handedly dismantled the US economy. 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 or Trump might get re-elected in 2020!
The Fed announced on Wednesday afternoon that they will increase rates and will also increase rates next year.
The Dow immediately dropped another 720 points. 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
— Jim Hoft (@gatewaypundit) December 19, 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 while watching their 401k’s dissolve into thin air.
The Dow Jones dropped 3,500 points since the Fed’s Jerome Powell’s insidious comments in early October to continue to increase interest rates.
The stock market has lost MORE THAN $4 trillion in value since then.
On Wednesday it lost another trillion or so.
Who the hell raises interest rates when the stock marker is down 12% in 3 months?
TRUMP NEEDS TO FIRE JEROME POWELL TODAY!
Even CNBC’s Jim Cramer, who is no Trump supporter, is bewildered with the Fed’s move.
On Thursday Cramer called it, “If I were running Trump’s re-election campaign, Jay Powell would be my worst nightmare.”
CNBC’s Jim Cramer went off on Federal Reserve Chairman Jerome Powell, saying President Donald Trump is right to worry about a possible recession in 2019 as a result of the central bank chief’s rate hikes.
“The president is spot on,” Cramer said on CNBC’s “Mad Money” on Wednesday evening, after the Powell Fed raised rates for the fourth time in 2018 and projected two more increases next year. “The Fed is perfectly happy to gradually strangle the economy, the U.S. economy, in order to stamp out inflation, or the potential of inflation. And that’s bad news for corporate earnings” and the stock market.
Cramer has been saying for months there’s no need to worry about inflation since it’s not problematically high, and that the economy is showing pockets of weakness. Taken together, those factors indicate the Fed should pause rate hike, he has argued.
“If I were running Trump’s re-election campaign, Jay Powell would be my worst nightmare,” said Cramer, who, like the president, has been calling on Powell to stop. Powell apologists, “they must have no sense or empathy for what’s about to happen to the working person in this country,” Cramer added.
Read the rest here.