In 2018, Trump came out in full force, railing against the Federal Reserve over raising interest rates. He delivered speeches, posted from his Twitter podium, and gave an interview on CNBC at the end of the year on why he thinks the Fed is bad. Here’s the thing, though — a US President is supposed to allow the Federal Reserve to work without influence from him, and Trump’s ignoring that policy is not a good thing and in fact may have put the Fed in a position to where it HAD to raise rates like it did last year.
The dollar dipped last year after Trump’s comments, but still, the so-called “president” continues to lash out at them as he did this evening on Twitter.
Had the Fed not mistakenly raised interest rates, especially since there is very little inflation, and had they not done the ridiculously timed quantitative tightening, the 3.0% GDP, & Stock Market, would have both been much higher & World Markets would be in a better place!
— Donald J. Trump (@realDonaldTrump) March 29, 2019
Citing trade tensions and slowing global growth, the Fed this week revised it’s down growth projections and said they would likely not be raising interest rates in 2019.
Federal Reserve Chairman Jeff Powell stated numerous times that this decision had nothing at all to do with Trump’s comments, but the fact is that Trump HAS interfered and continues to do so, making Powell’s job extremely difficult.
Trump himself said:
‘I hope I didn’t influence, frankly, but it doesn’t matter. I don’t care if I influenced or not. One thing: I was right.’
So really all it boils down to is that we have a narcissist for a “president” who only cares about being right, despite the ramifications, and this was not lost on the Twitterverse who had a lot to say about Trump’s tweets bashing the Fed.
Featured image via screenshot