Trump Slams Fed as "Crazy"

Just 1 day after saying he has not met with Powell because he did not want to interfere, Trump slams the Fed as "crazy".

Bloomberg reports Trump Steps Up Fed Pressure With ‘Gone Crazy’ Jab After Sell-off.

President Donald Trump slammed the Federal Reserve as “crazy” for its interest-rate increases this year in comments hours after the worst U.S. stock market sell-off since February.

“The Fed is making a mistake,” he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally. “They’re so tight. I think the Fed has gone crazy.”

This is fresh on the heels of what I said yesterday in Trump Goes After Fed but Proclaims "I Don't Want to Meddle": Trump Translated

Three-Point Translation

  1. I said I don't want to meddle, but I really do.
  2. I am worried about the stock market.
  3. Please don't sink the stock market before the midterm elections or I may get really nasty.

Mike "Mish" Shedlock

Comments
No. 1-16
pgp
pgp

It's a simple formula and its been done before... put a patsy in charge when things aren't going so well. Then there is always someone to blame when it all goes pear shaped. The practice of modern democracy, particularly in the USA, is about exerting control through clientelism.

Sechel
Sechel

what president likes it when the fed is appears to be taking away the punch bowl

Realist
Realist

The Fed is responding to a fear of inflation. The inflation that is appearing is a result of Trumps tariffs and trade wars which are currently in the process of unwinding the deflationary effects of the global supply chain that has developed over the last 30 years. Plus the oil price inflation that is a result of Trump squeezing Iran. The only person who is “crazy” is Trump.

truthseeker
truthseeker

It seems to me like our over leveraged markets may be at least to some degree, agreeing with Trump.

stillCJ
stillCJ

Editor

Like many other people, including Mish, presidents often disagree with Fed policies.

Stories