President Joe Biden - Kamala Harris Administration

#52,753
#52,753
jmacvols1 said:
Trump was against low interest rates as far back when Obama was President
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That is exactly what I said. Did you not read WTF I posted?

Rasputin_Vol said:
Well hold on... let's be honest. That would mean that Donald Trump took advantage of these artificially low rates, also. Even when he campaigned in 2016, he was aware rates were low. But once he got in office, he maintained the same aggressive low interest rates.

Just saying...
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#52,754
#52,754
jmacvols1 said:
Trump was against low interest rates as far back when Obama was President

Donald J. Trump
@realDonaldTrump

The Fed's reckless policies of low interest and flooding the market with dollars needs to be stopped or we will face record inflation.
2:24 PM · Sep 29, 2011

Yet as President Trump had the economy roaring and the Fed "spent much of 2018 operating under the assumption that Trump’s tax cuts and a continually plunging unemployment rate would soon kick the economy into high gear, creating inflation. And until about five years ago, policymakers assumed that unemployment couldn’t get much lower than 5 percent, suggesting the U.S. economy was on the brink of overheating.

The Fed hiked four times in 2018 under this assumption — even though none of it ended up coming to fruition. Joblessness continued its free fall, plunging to as low as 3.5 percent, while inflation remained tepid."

"Leading up to the Fed’s three cuts last year, Powell admitted in July during his semiannual testimony to Congress that officials didn’t get their estimates right, adding that joblessness can go much lower than officials initially thought without stoking inflation. That revelation also meant that interest rates were restricting growth more than officials thought. That’s something Trump had been claiming all along, with the claims appearing as early as April, before the possibility of rate cuts were even on the Fed’s radar."

The Fed wrongly tho't inflation would be a problem hence raised interest rates and Trump complained those rate increases would slow the economy when they were not necessary for inflation was not a problem. Powell admitted they were a mistake.

“Donald Trump was right,” Duy says. “The Fed did raise interest rates too much in 2018, and certainly, the last rate hike in 2018 and the signaling for more hikes in 2019 was a pretty clear error. Donald Trump did call the Fed out on this, and the Fed proved that rates were too high because they cut interest rates.”

Donald J. Trump
@realDonaldTrump
·
If the Fed had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%...with almost no inflation. Quantitative tightening was a killer, should have done the exact opposite!
9:04 AM · Apr 14, 2019

"Even though the Fed did ultimately fulfill part of Trump’s requests, experts say it hasn’t propelled the economy forward “like a rocket ship,” as the president suggested it would. Growth has averaged out to 2.6 percent over the past three years, with the strongest year coming in 2017 after Trump’s tax cuts. The Congressional Budget Office, however, estimates that growth will average out to 1.9 percent each year over the next decade.

“The Fed probably did damage the economy a little bit by tightening rates, but I don’t think it’s the difference between where we are and a rocket ship,” Brusca says. “It just goes to show that even Mr. Trump can be right for the wrong reasons.”

www.bankrate.com

Was Trump Right About The Fed And Interest Rates All Along? | Bankrate

Trump's calls for lower interest rates and balance sheet growth were exactly how monetary policy ended in 2019, and it might have justified Trump’s position all along. But experts caution that the president, who has made a habit of jawboning Fed officials, wasn’t wholly correct — even if his...
www.bankrate.com

feds kept raies low under Obama to prop the economy up and they would like to cut the rates to prop up Bidenomics.
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Trump wanted negative rates when he was in office. And that's before Covid.


 
#52,755
#52,755
Rasputin_Vol said:
That is exactly what I said. Did you not read WTF I posted?
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I pointed out Trump was against low rates by posting a tweet of his. He was against these long term low rates the fed was doing to help prop up Obama.

You posted "But once he got in office, he maintained the same aggressive low interest rates."

As I pointed out in my post, Trump had the economy roaring and the fed was afraid the ecomony might overheat so they raised rates. In this particular case Trump was for keeping rates low because rasing the rates would hurt the economy and the fed admitted they were wrong and hurt the economy by raising rates. The economy may have grown more than what it did had the fed not raised rates 4 times in 2018.
 
#52,756
#52,756
volfanhill said:
Trump wanted negative rates when he was in office. And that's before Covid.


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The fed wrongly tho't the economy was going to overheat because Trump had the economy roaring. The fed raised the rates 4 times in 2018 and it hurt the economy and the fed admitted they were wrong in raising rates. So why would Trump want higher rates to hurt the economy? Trump was against long term low rates the fed was using to prop up Obama.
 
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#52,757
#52,757
jmacvols1 said:
The fed wrongly tho't the economy was going to overheat because Trump had the economy roaring. The fed raised the rates 4 times in 2018 and it hurt the economy and the fed admitted they were wrong in raising rates. So why would Trump want higher rates to hurt the economy? Trump was against long term low rates the fed was using to prop up Obama.
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Trump called for negative interest rates while he was POTUS.
 
#52,758
#52,758
volfanhill said:
Trump called for negative interest rates while he was POTUS.
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the fed kept rates low for Obama to keep the economy propped up for him. Yet when Trump became President they raised the rates and damaged the economy slowing it down. Was this all politics to help obama and hurt trump?

Trump said to reporters: “I didn’t have funny money to play with. President Obama had zero interest. I have interest to pay. And now, a lot of people that weren’t getting interest in their money for many years, you understand, they’re now actually getting interest on their money.”

 
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#52,762
#52,762
jmacvols1 said:
the fed kept rates low for Obama to keep the economy propped up for him. Yet when Trump became President they raised the rates and damaged the economy slowing it down. Was this all politics to help obama and hurt trump?

Trump said to reporters: “I didn’t have funny money to play with. President Obama had zero interest. I have interest to pay. And now, a lot of people that weren’t getting interest in their money for many years, you understand, they’re now actually getting interest on their money.”

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Trump was pushing for negative rates as POTUS. We have the public quotes. At this point, you are being as silly as LG. It's been proven. Trump wanted negative rates. His other words before that don't matter
 
#52,772
#52,772
Vol423 said:
It infuriates me that the Republicans in the House have taken this long to begin impeachment proceedings against Mayorkas.
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I do understand that, however, this may have been a clever ploy by republicans to wait until election year. That forces even the liberal networks to cover the border, which is a real stinker of a subject for Biden.
 
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