You know it must be coming---another Fed monetary policy meeting---since Trump is blasting the Fed on Twitter once again:
The Fed's monetary policy group, the Federal Open Market Committee, is scheduled to meet next week on Tuesday and Wednesday, with a policy statement scheduled for Wednesday at 2:00 Eastern Time.The Federal Reserve is derelict in its duties if it doesn’t lower the Rate and even, ideally, stimulate. Take a look around the World at our competitors. Germany and others are actually GETTING PAID to borrow money. Fed was way too fast to raise, and way too slow to cut!— Donald J. Trump (@realDonaldTrump) October 24, 2019
The sad thing is that President Trump doesn't realize that
the Fed is currently pumping massive amounts of reserves (super-money) into the system already.
Another rate cut, which is very likely next week, will require the Fed to be even more aggressive in its money pump.
As I make clear in more detail in the EPJ Daily Alert, the Austrian-lites who are once again warning about an imminent recession are way off, the growing threat is accelerating price inflation, first to the 3% range than 5%. But who really knows where it will stop?
-RW
Can't we have both recession and inflation. Stagflation-esque type of situation
ReplyDeleteFind the bright side, Robert. Trump is attacking the Fed in open forum. Pointing the finger correctly at the money manipulators and placing blame at their feet. When was the last time a sitting President publicly attacked the Federal Reserve?
ReplyDeleteBut Trump wants the Fed to create more fiat to temporarily pump up the economy and make the coming crash even worse. How about Trump push for an audit of the Fed, ....too much reality? If Trump is going to point fingers he might as well do it right for the right reason. But Trump doesn't care about what is right, he cares about what will make him look good at the moment.
DeleteTrump is a clown and a troll. Exactly what the American public which got deathly afraid of the politically-correct humorless zombies desperately needs.
DeleteNow, just like any clown, he is allowed (or not afraid) to point finger to the real powers pulling strings from the shadows. Attracting attention to the likes of Fed (how many people know that it is privately owned?) and dragging out the "intelligence community" cabal are invaluable - these institutions can only operate like they do when nobody pays any attention to their machinations.
And regarding the clown's ideas on how to make america great again - who cares? He won't be able to effect them anyway, simply because he's too busy defending himself from the pissed off owners of this "democracy".
Nothing matters if we are not on a gold or silver standard.
ReplyDeleteReturn to the US Silver Dollar!