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Uncertain Future for Monetary Policy as POTUS Publicly Calls for Rate Cut While Fed Holds Steady

trump and jerome powell

Photo by The White House

Uncertain Future for Monetary Policy as POTUS Publicly Calls for Rate Cut While Fed Holds Steady

On Tuesday, POTUS took to Twitter and called for the Fed to cut rates by 1%, pointing to 3.2% GDP growth and “wonderfully low inflation.”

China is adding great stimulus to its economy while at the same time keeping interest rates low. Our Federal Reserve has incessantly lifted interest rates, even though inflation is very low, and instituted a very big dose of quantitative tightening. We have the potential to go…

….up like a rocket if we did some lowering of rates, like one point, and some quantitative easing. Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!

However, it’s hard to say if inflation is as “wonderfully low” as POTUS claims.

After all, official sources saw CPI inflation jump to 1.9%, with rapidly rising food prices reported as the leading cause. Plus, the “growing” economy POTUS alludes to appears to have topped out since January 2018 (see red arrow in the chart below – source):

DJIA Weekly Inflation

Additionally, according to an official source, a 3.2% or higher GDP growth rate has happened on 3 differentoccasions before POTUS took office. The same source also reports that GDP Growth Rate in the United States averaged 3.22 percent from 1947 until 2019. So really, current GDP growth only appears to be on par with the average.

White House officials including POTUS and top economic advisor Larry Kudlow have recommended the Fed cut rates by half a point in the past. Despite all the information above, CNBC reports that, with his 1% cut recommendation, POTUS has “doubled down” on this approach.

 …click on the above link to read the rest of the article…

Donald Trump: Warmonger-in-Chief!

Donald Trump: Warmonger-in-Chief!

Trump Warmonger

If a world conflagration, God forbid, should break out during the Trump Administration, its genesis will not be too hard to discover: the thin-skinned, immature, shallow, doofus which currently resides in the Oval Office!

This past week, the Donald has continued his bellicose talk with both veiled and explicit threats against purported American adversaries throughout the world.  In a cryptic exchange with reporters during a dinner with military leaders, he quipped:

You guys know what this represents?

Maybe it’s the calm before the storm.  It could be the

calm. . . before. . . the storm.*

A reporter asked if he meant Iran or Isis which the POTUS responded, “you’ll find out.”  Instead of threatening supposed overseas foes with nuclear annihilation, none of whom have taken any concrete military action against the US, why not go after someone who has actually compromised the country’s security, namely Hillary Rodham Clinton!

While some dismissed the comments as typical Trumpian bluster, White House press secretary Sarah Sanders added further ominous overtones when questioned saying they were “extremely serious.”

Later in the week, Trump continued to threaten tiny North Korea, this time in not so veiled terms:

Presidents and their administrations have been talking to North Korea for 25 years,

agreements made and massive amounts of money paid hasn’t worked, agreements

violated before the ink was dry, making fools of U.S. negotiators.  Sorry, but only

one thing will work.**

If war erupts either on the Korean Peninsula or in any other part of the globe that the U.S has wantonly poked its nose into, it can be safely assured that neither Trump nor any of the other “military leaders,” with which he recently had dinner with, will be in the midst of hostilities as the bombs and bullets are being cast about.

…click on the above link to read the rest of the article…

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