139

Trump criticizes Fed Chair Powell for considering interest rate cuts this year to 'help the Democrats' win elections (www.businessinsider.com)

submitted 8 months ago by MicroWave@lemmy.world to c/politics@lemmy.world

27 comments fedilink hide all child comments

Trump accused Fed Chair Powell of making politically motivated decisions on interest rates.
He said Powell is considering interest rate cuts this year to help Democrats.
Powell has emphasized he does not have a role in policymaking and will continue to weigh economic data.

——

The head of the nation's central bank isn't getting former President Donald Trump's stamp of approval.

On a Friday morning interview with Fox News, Trump criticized Federal Reserve Chair Jerome Powell's handling of the economy, particularly regarding interest rates. While Powell has previously maintained his position does not have anything to do with policymaking, Trump accused the bank's chair of being "political," and making decisions that will help Democrats in the upcoming elections.

"I think he's going to do something to probably help the Democrats, I think, if he lowers interest rates," Trump said, adding that "it looks to me like he's trying to lower interest rates for the sake of maybe getting people elected."

you are viewing a single comment's thread
view the rest of the comments

[-] DogPeePoo@lemm.ee 1 points 8 months ago* (last edited 8 months ago)

However— these are the tools being employed which are designed specifically for wealth preservation and fucking the common consumer:

What is the Fed's RRP facility?

When the Federal Reserve uses a reverse repo, the central bank initially sells securities and agrees to buy them back later. In these cases, the Fed borrows money from the market, which it may do when there is too much liquidity in the system.

https://www.google.com/url?q=https://www.newyorkfed.org/markets/rrp_faq&sa=U&sqi=2&ved=2ahUKEwicv-a60o2EAxVYweYEHVvTDqQQFnoECBwQAQ&usg=AOvVaw23fgJ0NcZZbolqC1ydWUtH

this post was submitted on 02 Feb 2024

139 points (94.3% liked)

politics

18973 readers

3351 users here now

Welcome to the discussion of US Politics!

Rules:

Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive.
Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.

That's all the rules!

Civic Links

• Register To Vote

• Citizenship Resource Center

• Congressional Awards Program

• Federal Government Agencies

• Library of Congress Legislative Resources

• The White House

• U.S. House of Representatives

• U.S. Senate

Partnered Communities:

• News