Stupid tRump blows stack despite that jobs data strengthens his case for rate cuts
Fed Reserve has a Congressional mandate to protect / encourage jobs and to keep / push inflation down.
Inflation has been stubborn and is creeping back in the wrong direction. Unemployment has been low, right in the range of "full employment". Powell is adamant about stomping on inflation, which was a big campaign promise. But tRump really only cares about interest rates for real estate loans and reducing the cost of his huge deficit increase.
So Powell has been reluctant to cut while jobs were maintaining balance. Now it is clear jobs are not in balance and could use some rate cut help.
tRump is so stupid. He's reacting to the PR aspect of "his" (it is his fault), "his" economy showing weakness and forgetting his bigger goals.
= new reply since forum marked as read
Kick in to the DU tip jar?
This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.
As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.