Trump Blasts Powell on Rate Hikes, QT, and the Strong Dollar at CPAC 2019

-edited

Speaking during the CPAC 2019 conference on Saturday, Trump blasted Fed Chair Jerome Powell on three fronts.

Trump went after Jerome Powell again today with Swipes at Fed for Raising Rates and a Too Strong Dollar.

“I want a dollar that does great for our country, but not a dollar that’s so strong that it makes it prohibitive for us to do business with other nations and take their business,” Trump said.

He didn’t mention Powell by name, but referenced “a gentleman that likes raising interest rates in the Fed, we have a gentleman that loves quantitative tightening in the Fed, we have a gentlemen that likes a very strong dollar in the Fed.”

“Can you imagine if we left interest rates where they were, if we didn’t do quantitative tightening,” Trump said. “There’s no inflation,” he added.

December 24 Snipe

CPAC Video

Mike "Mish" Shedlock

Comments (31)
No. 1-11
hmk
hmk

He truly is an idiot at times. He has to know what he is saying is asinine. I suppose his motivation is to keep the casino solvent until the next election.

Sechel
Sechel

Trump should tell us what the right exchange rate for the dollar is instead of playing arm chair quarterback

Bam_Man
Bam_Man

As if the interest rate paid on $23 Trillion in FedGov debt is just a matter of choice. This will not end well, and the end will come a lot sooner than most people think.

2banana
2banana

Manufacturing jobs have rushed back to America under Trump.

With a lower dollar, it will turn into a flood.

truthseeker
truthseeker

Ok I understand why u deleted me. Mish please try to understand that your guys would understand what I’m trying to say here will get back to the

thimk
thimk

let's keep those "zombie" companies afloat in perpetuity. let's enable government to borrow indiscriminately to fund their deficits cheaply. let's prevent average savers from receiving a decent return. Is this MAGA ?

AWC
AWC

More than likely, he's just playing to his base. That said, he's sounding more like Dick Nixon every day. Nixon coerced Burns to fire up the printing presses full on. Of course, Tricky Dick had the option to decouple the dollar from gold, ultimately leaving the inflationary mess to Gerald Ford, and then Jimmy Carter. If The Don pushes Jay to do the same as Burns, what will he decouple the "trashed" dollar from? Bolivars?

Jackula
Jackula

Was hoping this guy wouldn't behave like a career politician and do the right thing regardless of the impact on his possible re-election but all of the power of the presidential office not to mention the dead presidents going into his back pocket must be addicting. He's already toast if the economy blows up before the 2020 elections since he was dumb enough to own it

Casual_Observer
Casual_Observer

This will not end well regardless of who wins in 2020.

truthseeker
truthseeker

Mish I would like to know if my comments were deleted because they were possibly dangerous or ridiculous? Can you at least answer that?