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Trump demands Fed help on economy, complains about interest rate rises

8 Comments
By Jeff Mason and Steve Holland

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8 Comments
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The US economy has been doing pretty great since Mr. Trump was elected, despite best efforts to screw it up. My stocks have done well, which I'm thankful about.

When an economy is doing too well, it needs some brakes, which is classic Fed action.

3 ( +3 / -0 )

When an economy is doing too well, it needs some brakes, which is classic Fed action.

In theory I agree. Trump continues to mole-whack away, trying to goose the economy for more short term gains with zero regard for what happens after the elections.

Which is to be expected from a politician who puts his needs (and those of his cohorts, i.e. the GOP and the richest .01%) ahead of the nation's and future generation's.

It's also to be expected coming from a dodgy businessman who's bankrupted casinos and has so screwed up his own finances that he has to resort to getting money from 'foreign money lenders'. I wonder if the US public will ever learn if he's reported his dealings with them on his tax forms.

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Is there a presidential norm this lunatic hasn't shattered?

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It's also to be expected coming from a dodgy businessman who's bankrupted casinos and has so screwed up his own finances that he has to resort to getting money from 'foreign money lenders'.

He's also the guy who by his own admission made a LOT of money when the crash hit in 2008. Economy crashes are an excellent opportunity for those with money to make more. While the rest of us may be worried about the US economy crashing, for Trump it would be a good thing.

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I was listening to an economist in the US recently explaining how the coming crash was a result of two issues, one that requires raising the interest rate, and one that requires lowering it. As these both cannot happen at the same time, this he explained is what will cause the coming crash.

Unfortunately, I don't know economics well enough remember what the two things were. Can someone else explain it maybe?

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Can someone else explain it maybe?

The last crash, and many others before them, were caused by the bankers, not the govt or the central bank. Banks got into risk levels they couldnt handle, by making and dealing in toxic securities backed by toxic housing loans. Japan's bubble burst in the 90s wasn't so different.

Trump's policy of stimulating an already stimulated economy may cause a recession, but not a crash. It takes greedy billionaire bankers to do that.

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You're an economist Jeff - what are the reasons the feds have for increasing the interest rate, and what are the reasons they lower it?

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@Strangerland

Because the Fed foresees the chance of unhealthy levels of inflation, which can be choked off with higher interest rates.

The Fed lowers rates to stimulate the economy. Meanwhile, Trump is trying to stimulate (although the economy no longer needs it) by infrastructure and other spending. So the Fed is trying counterbalance Trump's inflationary spending plans to prevent overheating, which is p*ssing off Trump.

The economist you were seeing may have been talking about short term rates, which the Fed controls directly, and long term rates, which are influenced by the market.

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