It is sad that the president of these United States does not read or listen to his experts. Instead, he takes the advice of a college dropout, Fox’s Sean Hannity. Donald Trump is riding the largest economy in the world, and he does not have a clue how it operates. His idea of change is trying to implement his 30-year-old ideas.
POTUS decided to tweet about China’s economy, which has been primarily state-run. He was actually using it as a role model for America, saying it has been “adding great stimulus.” Trump’s point was that he has been itching to keep the Federal Reserve’s interest rates low to increase his popularity in the upcoming 2020 presidential election:
‘China is adding great stimulus to its economy while at the same time keeping interest rates low. Our Federal Reserve has incessantly lifted interest rates, even though inflation is very low, and instituted a very big dose of quantitative tightening. We have the potential to go…’
Then, Trump continued down his crooked train of thought. He does not understand that in good times, the Federal Reserve must raise interest rates. Then when worse times come, as they always must in economic cycles, the Fed has somewhere to go. It counteracts inflation by lowering interest rates. The economist-in-chief has been haranguing the Federal Reserve Chief Jerome Powell, trying to get him to resign, because he wants someone he can control in that position.
Trump continued tweeting:
‘….up like a rocket if we did some lowering of rates, like one point, and some quantitative easing. Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!’
Twitter world caught fire. Check out some of our favorites below:
