Trump attacked his own Federal Reserve Chairman for not cutting rates fast enough to save his troubled and potentially dying presidency.
Trump tweeted:
Jay Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision! A terrible communicator!
— Donald J. Trump (@realDonaldTrump) September 18, 2019
NBC’s Kelly O’Donnell explained what this really about:
The Fed isn't going to save Trump's reelection campaign. pic.twitter.com/kxjfCPHZvf
— Sarah Reese Jones (@PoliticusSarah) September 18, 2019
O’Donnell said, “This is the latest tweet from the president in reaction to this decision from the fed as you pointed out, the president does want to see lower rates, but he doesn’t like the pace and the increment at which the board has decided to do this and some division among the decision-makers there has been part of his discomfort with this of course, politically the president wants to protect an economy that he wants to take credit for, and a generally robust and strong economy is in his best interest for reelection, and of course it has broad, good implications for the country. But it has a definite important role to play for his own political standing so the president is very intertwined with the fate of the economy, and certainly he has often talked about the stock market which is a different kind of indicator, and the president tends to react when there are fluctuations as you pointed out, there are some disinterest or some dislike for this initial step from the Fed.”
Trump is throwing a fit because he wants the Fed to save the US economy from his tax cuts for the wealthy, trade war, and other policy decisions that have helped to slow the global economy. Donald Trump wants zero percent interest rates right now because he incorrectly thinks that it will prevent a recession. If rates were lowered to what Donald Trump wanted, it would save Trump and his family millions of dollars a year in lower loan payments.
The Fed isn’t going to save Trump from his looming 2020 fate, and that is why is pouting on Twitter.
If Trump spent as much energy governing as he does figuring out new to bilk taxpayers, the country might not be on the brink of a recession.
America doesn’t need an interest rate. Donald Trump does to save his failing businesses.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
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