Jerome Powell’s Disastrous Decisions Give China the Upper Hand, Melt the US Economy, Undermine President Trump and Help the Left
For months we called Jerome Powell a “madman at the Fed.”
For over a year Federal Reserve Chairman has openly operated to undermine President Trump, destroy the record US economy, help the Communist Chinese in the current trade war with the US and help the Democrat Party win in 2020.
Earlier this week Bill Dudley, a top official at the Central Bank, wrote on opinion piece for Bloomberg on President Trump’s trade war (note: He called it Trump’s trade war and NOT China’s thirty year trade war against the US middle class).
“This manufactured disaster-in-the-making presents the Federal Reserve with a dilemma: Should it mitigate the damage by providing offsetting stimulus, or refuse to play along? If the ultimate goal is a healthy economy, the Fed should seriously consider the latter approach.”
The former Central Banker was openly calling on the Federal Reserve to destroy the US economy to undermine Trump.
Powell already is.
The US economy and markets hit several records in 2018.
President Trump was correct in his policy and the economy was never stronger.
Then in October 2018 Federal Reserve Chairman Jerome Powell stepped in and crushed the outstanding gains.
The market tanked, the Dow Jones dropped over 5,000 points, the Middle Class was decimated and the global markets were shocked. Jerome Powell’s stock market crash was GREATER THAN the market crash after 9-11. The guy is a dangerous lunatic.
The Dow crashed 5,036 in December from its all-time high on October 3, 2018.
Since Jerome Powell made his comments on October 3rd and promised several new rate hikes the Dow Jones sank 18.7%.
The Dow went down over 5,000 points or 18%!
The stock market crashed 14% after the 9-11 Islamic attacks on America.
Over $5 Trillion in wealth was erased!
As a result of Fed Chief Powell’s actions, Americans have watched their 401k’s dissolve into thin air.
** Jerome Powell added billions of new debt to the economy.
**He stalled the Trump market surge.
**He decimated 401k’s.
**He eliminated trillions of dollars in wealth.
**And he also managed to bring the economy to a halt.
**Jerome Powell is a dangerous lunatic and screwed this president and the American people.
President Trump did not forget about Powell’s horrific mistakes.
In June Trump hammered the Fed Chair on Twitter.
Despite a Federal Reserve that doesn’t know what it is doing – raised rates far too fast (very low inflation, other parts of world slowing, lowering & easing) & did large scale tightening, $50 Billion/month, we are on course to have one of the best Months of June in US history…
— Donald J. Trump (@realDonaldTrump) June 24, 2019
….Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4’s or even 5’s. Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!
— Donald J. Trump (@realDonaldTrump) June 24, 2019
Trump was right.
Federal Reserve Chairman Jerome Powell has been a complete disaster.
And now it appears his disastrous decisions will affect the 2020 election to help Democrats.
Andy Surabian wrote today on Breitbart:
Federal Reserve Chairman Jerome Powell is helping China survive it through policies seemingly designed to undermine Trump and help the left.
Powell is responsible for turning the president’s trade strategy into a never-ending trade war. Doing so has not only likely gotten his name in the running for China’s all-time favorite U.S. dignitary, but it has also provided the Never Trump media the ammunition it has needed to project the president’s base, particularly among farmers and middle-income earners, as deteriorating more by the day…
…Powell raised the U.S’s benchmark interest rate target four times last year at a time when China continually looked for ways to lower its own. By giving the yuan a much weaker standing in the exchange market, the Fed chairman provided the Chinese every incentive to flood the U.S. with cheap goods and U.S. businesses every reason to accept them. As a result of Powell’s actions, the U.S.-China trade deficit increased by nearly one million from January to December despite the White House’s implementation of hefty tariffs during that period.
Even after backing down somewhat from his aggressive hikes, Powell still found a way to help rig the economic data in the Democrats’ favor. Shortly after cutting rates for the first time in July, Powell said that the reduction was merely a “midcycle adjustment.” This announcement sent the stock market in a tailspin as consumers and investors began to anticipate higher than expected U.S. rates in the months to come. The media began to talk up a recession, all while playing up economy-centered polling that was unfavorable to the president.
All these decisions by Powell represent Democrat-First, not America-First, thinking. Then again, the Democrat-First mantra appears to be exactly what the Fed chairman is going for.
Read the rest here.