Trump lays into the Federal Reserve, says 'not thrilled' about interest rate hike

anatta said:
amazing. the leftists are simply incapable of discussing the wisdom of more interest rates. or not.
TDS has rotted their minds
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YOU worry about the dangers we face because of raising interest rates.

Intelligent people are going to worry more about the dangers we face because we have an insane, incompetent individual sitting in the Oval Office.
 
cawacko said:
There are long term negative repercussions for the Fed having kept rates as low as they have for as long as they have. Powell is doing the right thing.
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too fast. obviously rates need to come up.
But when you hike at that rate 4 in a year after GDP is just showing signs of expansion..you risk growth.

Thanks for giving your opinion on rate hikes.
 
rhym3pays said:
Now to be fair, Trump knows ZERO about fiscal policy other than getting tax cuts for himself - so I already know those making economic decisions are the same ole GOP supply side economists we have always had...and their philosophy is to pillage the economy for as much as you can via unpaid for tax cuts until the next bubble --- then blame it on Democrats or poor people....then repeat
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rate hikes are not about supply side.
 
rhym3pays said:
Now explain to me how one can be for hiking up interest rates in 2015, but now want them to remain low in 2018?
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you cannot be this dense..
2015 was still a re-bound, we still were trying to bring down unemployment etc.
The economic climate between 2015 and 2018 is significantly different,and requires differernt policies
( and low rates/ high rates aren't in question,it's the pace of hikes )

Unemployment is now at all time lows -same with labor participation rate ( going up)..
simply increasing jobs is no longer the goal. the goal is GDP growth to boom the economy.
( which in my opinion is the only way to get wage growth)
 
anatta said:
you cannot be this dense..
2015 was still a re-bound, we still were trying to bring down unemployment etc.
The economic climate between 2015 and 2018 is significantly different,and requires differernt policies
( and low rates/ high rates aren't in question,it's the pace of hikes )

Unemployment is now at all time lows -same with labor participation rate ( going up)..
simply increasing jobs is no longer the goal. the goal is GDP growth to boom the economy.
( which in my opinion is the only way to get wage growth)
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Why do you keep avoiding my question --- Was trump "dense" to be asking rates to be raised in 2015, yes or no??

The answer is Yes, he was dense, because Trump knows ZERO about economic policy that isn't specifically designed to benefit him only.

Trump does not make economic policy, if you believe he does, you are the one who is dense


Also, GDP growth is not the only way to get wage growth -- especially when productivity has been up for so long, wages should have grown with it -- but we all know wages have been depressed purposely -- simultaneously while corporations continue to get more and more tax cuts -- because supply side economics continues to show itself to be a failure.
 
rhym3pays said:
Why do you keep avoiding my question --- Was trump "dense" to be asking rates to be raised in 2015, yes or no??

The answer is Yes, he was dense, because Trump knows ZERO about economic policy that isn't specifically designed to benefit him only.

Trump does not make economic policy, if you believe he does, you are the one who is dense


Also, GDP growth is not the only way to get wage growth -- especially when productivity has been up for so long, wages should have grown with it -- but we all know wages have been depressed purposely -- simultaneously while corporations continue to get more and more tax cuts -- because supply side economics continues to show itself to be a failure.
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Yup, depressed since the very early 1970s in a society that runs upon mass consumption.
 
rhym3pays said:
Why do you keep avoiding my question --- Was trump "dense" to be asking rates to be raised in 2015, yes or no??

The answer is Yes, he was dense, because Trump knows ZERO about economic policy that isn't specifically designed to benefit him only.

Trump does not make economic policy, if you believe he does, you are the one who is dense


Also, GDP growth is not the only way to get wage growth -- especially when productivity has been up for so long, wages should have grown with it -- but we all know wages have been depressed purposely -- simultaneously while corporations continue to get more and more tax cuts -- because supply side economics continues to show itself to be a failure.
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how so?
 
rhym3pays said:
Why do you keep avoiding my question --- Was trump "dense" to be asking rates to be raised in 2015, yes or no??

The answer is Yes, he was dense, because Trump knows ZERO about economic policy that isn't specifically designed to benefit him only.

Trump does not make economic policy, if you believe he does, you are the one who is dense


Also, GDP growth is not the only way to get wage growth -- especially when productivity has been up for so long, wages should have grown with it -- but we all know wages have been depressed purposely -- simultaneously while corporations continue to get more and more tax cuts -- because supply side economics continues to show itself to be a failure.
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I answered your question. It's an inane comparison -the question is stupid.

the bolded is hodge podge garbage. Productivity is up,it's been going up. Wages have nothing to do with supply side-
they are much more about supply and demand ( labor market) and economic growth driving competition by employers for labor.

Labor is always the last to get wage growth,even after productivity is maxed out. The reason for it is employers are used to looking for productivity to make up for not increased hiring.

That's about where we are now. maxed out on productivity . hiring is becoming maxed out.
The only thing left for employers to do is to start competing for labor against their competitors.
The only way the employers start competing for labor is to boom the economy.

Powell is saying he's happy with 2.5% GDP..he's wrong. it's not enough to drive wage increases
 
I got my first raise in 11 years since I've contracted for my employer. They did it because good operators were leaving for the competition. There is now competition because the economy is doing well.

it feeds on itself
 
anatta said:
In a stinging and historically rare criticism, President Donald Trump expressed frustration with the Federal Reserve and said the central bank could disrupt the economic recovery.

Presidents rarely intercede when it comes to the Fed, which sets the benchmark interest rate that flows through to many types of consumer debt.

Fed officials, including Chairman Jerome Powell, have raised interest rates twice this year and have pointed to two more before the end of 2018.

Trump, in an interview with CNBC, said he does not approve, even though he said he "put a very good man in" at the Fed in Powell.

“I’m not thrilled,” he told CNBC's Joe Kernen in an interview to air in full Friday at 6 a.m. ET on "Squawk Box." “Because we go up and every time you go up they want to raise rates again. I don't really — I am not happy about it. But at the same time I’m letting them do what they feel is best.”

“But I don’t like all of this work that goes into doing what we’re doing.”

Markets reacted to Trump's comments, with stocks, the dollar and Treasury yields all falling.

Fed officials did not comment on the president's remarks. The White House, in a statement after the interview excerpt aired on CNBC, emphasized that Trump did not mean to influence the Fed's decision-making process.

"Of course the President respects the independence of the Fed. As he said he considers the Federal Reserve Board Chair Jerome Powell a very good man and that he is not interfering with Fed policy decisions " the statement said. “The President’s views on interest rates are well known and his comments today are a reiteration of those long held positions, and public comments."
https://www.cnbc.com/2018/07/19/tru...ys-hes-not-thrilled-about-interest-rate-.html
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They are pulling currency out of circulation, monetarism is their job, Trump's tax cuts made no sense given the economy, which he inherited from Obama I might add, was advancing, they are just safe guarding against inflation. Although I got to believe inflation is just what Trump wants to happen, his background is real estate
 
anatta said:
Trump is correct..weve already had 2 rate hikes this year. Powell wants 2 more! -
i think that is more then the entire Obama adm?

Powell want's more? that's a bad idea and will kill growth
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Are you retarded? Inflation is higher than it has been at any point in Obama's term.

Just like Republicans to rave frantically about hyperinflation for 10 years while we're trying to fix the mess they cause, and once we've fixed it they steal power and try to actually bring hyperinflation about. The economy is in full throttle, this is just the time when you raise rates and raise taxes you fucking retarded child. Not during the middle of a recession like you fucking children always demand.
 
anatta said:
FFSake.
Obama had good JOB growth but ANEMIC GDP.. surely you get the differences?

It was understandable the Feds didn't want to raise rates at all -coming off the great recession under Obama.

But we are just starting to see signs of a good GDP growth this quarter, and raising the rates 2 more times in 6 months is a real danger it strangles expansion. The FED seems oblivious on this.

See if you can discuss the merits of rate hikes (or not) with out injecting partisanship into it.
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GDP growth without wage growth is pointless anyway. Who the fuck do you think is getting the money in that case? Not the average American. It's going to the owners. Wage earners aren't getting a single red cent. Fuck em. Tank "the economy" so that the rich can suffer with the rest of us.
 
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