Lately, the mainstream media has taken to blaming President Donald Trump for uneasy market conditions.
Yes, the stock market is seeing quite the rocky end to 2018, but this isn’t the President’s fault, it’s clearly the Federal Reserves.
As first reported by the Gateway Pundit, because of Fed policies Americans are being hit with massive interest payments on Obama-era debt for years to come.
Take that and add it to the fact that the Fed has made it very clear just how anti-Trump it is and you’ll see this falling market has nothing to do with the President or his administration.
On October 3rd the DOW hit an all-time high of 26,829, it was also up 46% since the 2016 election and up for the 103rdtime since Trump was elected.
However, according to the report, the Dow plunged by 2,700 points since the Fed’s Chair Jerome Powell claimed they would continue to increase interest rates in October. Since then, the market has continued to fall and is down 3,200 points since it’s high on October 3rd.
Powell’s message then sent investor and the market into a freefall…
“The really extremely accommodative low interest rates that we needed when the economy was quite weak, we don’t need those anymore. They’re not appropriate anymore… Interest rates are still accommodative, but we’re gradually moving to a place where they will be neutral. We may go past neutral, but we’re a long way from neutral at this point, probably.”
In reaction to President Trump’s tweet, the Fed once again announced it would likely raise rates… the outcome? Another 507 point drop.
According the Gateway Pundit, a whopping 1/8thof the U.S. economy is gone because of the Federal Reserve… NOTthe President.
Stephen Moore, a top economist on the Trump team explained the recent decline in the markets on FOX Business, and agreed with the President that the recent increases have made the market lose control but more importantly, are costing taxpayers TRILLIONS.
Moore also pointed out that there is no clear indication of inflation in the U.S., meaning there’s absolutely NO need for increasing rates.
It makes you wonder, who is the Fed actually working for?! It’s definitely not for the better of the American people.
We’ll keep a close eye on this story and the Fed’s decision.
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