Powell Says Economy 'Remarkably Good' After Trump's Blow-Out Win Because Americans Think the Economy Sucks
What was the rush to cut rates in September and October? Oh right, the election...trying to keep the gang in charge, in charge
Jay Powell, the head of the U.S. Federal Reserve, said Thursday that there’s no rush to cut rates because the economy is “remarkably good,” just over a week millions of Americans gave Donald Trump a resounding victory because of their economic struggles.
Powell addressed a Dallas Fed event and said “the economy is not sending any signals that we need to be in a hurry to lower rates. The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully,” according to Reuters.
The Federal Reserve cut rates 50 basis points in September and then another 25 in October, before the run-up to the U.S. presidential election.
The Kobeissi Letter posted on X Thursday: “Fed Chair Powell says the Fed does not need to be "in a hurry" to reduce interest rates. He said, "the economy is not sending any signals that we need to be in a hurry to lower rates." Why did the Fed cut by 50 basis points in September?”
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The Trends Journal noted in the lead-up to the presidential election that the central bank likes to keep the gangsters in charge, in charge, so we had forecast that the bank would cut rates to give Kamala Harris the edge.
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Powell went on to say the U.S.’s domestic growth stands alone among major economies. Economies across Europe are stumbling. Germany is expecting to see its economy contract for the second straight year and the UK’s economy grew a meager .5 percent in the second quarter.