The Fed goes ‘proactively hostile’ against Trump
The swamp is deep and it clearly includes the supposedly independent Federal Reserve which sets interest rates. The bank was lowering interest rates in 2024, but now they are talking about slowing down cuts because of a theoretical increase in inflation that they think will be caused by Trump’s tariffs:
FOMC Minutes Show ‘Almost All’ Fed Members See Higher Inflation Risks, Cite Trump Policies
Fed officials are worried about the inflation impacts from Trump’s policies: Minutes
So the Fed is not reactive (even when inflation is biting it in the ass), but is PROACTIVELY hostile toward the policy of a president it disagrees with even if said policy doesn’t even exist?
So the big question is – what does The Fed want us to see from The Minutes? Remember this was the meeting where Powell flip-flopped from uber-dove to super-hawk after Trump won the election.
Here are some things that the Fed doesn’t seem to care about relating to Trump’s suggested policies:
A rapid reduction in regulations which will reduce business costs and inflation.
Opening up drilling which will clearly reduce energy costs across the board, which will reduce inflation.
Ending the mandate for auto companies to spend massive amounts of money building expensive vehicles that people don’t want. This will clearly take away inflationary pressures on gas powered vehicles, repairs, and insurance.
Reducing government expenses substantially which reduces inflation.
Closing the borders which takes away inflationary pressures on housing, police, education, health, food, and everything else the illegals consume.
The Federal Reserve bankers didn’t mention that Trump’s tariffs in his first term didn’t raise the inflation rate over 2%, even though the public was repeatedly warned how harmful they would be.
They didn’t mention that Trump’s policies of fewer regulations, lower taxes, secure borders, and energy independence greatly helped raise the real wages of workers, especially those at the bottom because we had good economic growth, good productivity, and low inflation.
They didn’t admit that Trump’s tax rate cuts didn’t raise the deficit because government revenues rose substantially after the rate cuts.
Meanwhile, we didn’t see the Federal Reserve complain about Biden’s policies substantially raising inflation rates.
They didn’t complain about Biden increasing regulations as fast as he could during his four years in office, which rapidly increased costs on taxpayers.
They didn’t say a word when Biden opened the border letting in millions of people, which put cost pressures on everything.
They still haven’t mentioned that Biden’s policies to destroy reasonably priced energy caused prices to skyrocket in America and throughout the world, and that energy prices affect everything.
And they didn’t point out that the almost-two-trillion-dollar American Rescue plan with borrowed money was purely inflationary. They didn’t point out that Biden did not inherit a deep recession, so the rescue plan wasn’t needed. Biden, in fact, inherited a rapidly growing economy with inflation at 1.4%.
Nope, after months of seeing the inflation rate climbing rapidly from the 1.4% Biden inherited, the Federal Reserve and others misled the public that the inflation was transitory, and not caused by Biden’s policies.
The Federal reserve still didn’t complain when the Democrats passed the highly inflationary Inflation Reduction Act.
I have never seen the Fed mention the massive inflation of health care costs caused by Obamacare and all its regulations.
Nor did they mention that Biden dictatorially and unconstitutionally paying off hundreds of billions of dollars for student loans with borrowed money obviously causes inflation.
They also haven’t pointed out that running up $2 trillion dollar deficits in a supposedly good economy is highly inflationary and masks other problems in the private sector.
I have not heard Jerome Powell complain about the fraudulent and highly inflated jobs numbers information from the Biden Department of Labor, even though they base their rate decisions on these numbers. Instead of pointing out how many jobs are created by the government and subsidized by taxpayers, they still promote how great the job market is.
Chairman Powell hasn’t confessed that the Federal Reserve has lost hundreds of billions the last few years, and that loss has to be covered by printing money…which is inflationary.
They haven’t admitted that the Fed is essentially overpaying banks, especially big banks, for their short term deposits, and well-heeled depositors are keeping trillions in excessively high interest money market accounts because of the Fed’s overpayments. That is clearly inflationary.
And, the Federal Reserve hasn’t told the public that charging higher rates on mortgages, car loans, and every other loan makes things much more expensive and unaffordable, and that is obviously inflationary.
But they blame Trump for inflation from future policies, even though the inflation hasn’t materialized, and didn’t during his previous term in office.
And somehow, this Federal Reserve is all of a sudden going to be diligent in not lowering rates, because they think Trump’s policies will be inflationary.
I have never seen anything as blatantly ignorant as Jerome Powell saying all this illegal immigration is neutral on inflation. He looks at all the pressure on housing and everything else throughout the country and says it is neutral. Why would we trust this man and board to make decisions on interest rates or anything else?
Why would we trust the Department of Labor and any other federal department to be accurate on jobs, inflation, predictions, or anything else when their numbers have been so wrong?
Why would we believe these people could control temperatures, sea levels, and storm activity with all its natural variables when they can’t control anything else?
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Image: Free image, Pixabay license.
