Trump-supporting Steve Forbes told Fox Business Network that Trump's attacks on the Federal Reserve are causing more chaos and uncertainty because the Fed can't rescue inflation from under Trump's tariffs and it's reflected in a crash of today's markets.
Demented Donald is trying to make Jerome Powell out to be the bad guy who is causing the markets to collapse instead of Donald's ridiculous obsession with tariffs.
FORBES: But the uncertainty is a killer, and people are holding back. So I don't know what effect that'll have over on prices, but it will lead to a slow economy, perhaps a recessionary economy unnecessarily.
HOST: Well, how about this one, Steve? The Wall Street Journal reporting that President Trump wants to, quote, upend the Federal Reserve. Do you think it would be wise for Trump to exert more power over the Federal Reserve?
What are your thoughts?
FORBES: Well, we haven't had a Federal Reserve president fired by a president since the early 1950s. But it can be done. If the president wants to have it done, eventually he can force the man out, Powell out.
But the thing is, what do you do with the Fed when you get it?
And unfortunately, the Federal Reserve does not know much about inflation, thinks prosperity causes inflation, the whole way the Fed is modeled, the way they do monetary policy is wrong.
So what are you going to do with the Fed?
Lowering interest rates isn't going to cure what tariffs are doing and the uncertainties creating the prices that it's raising with the economy.
The Fed can determine the value of the dollar and focus on that, but there's nothing they can do about the rest of the inflation that is being introduced now.
When will Republicans in Congress finally put a stop to Trump's destruction of the US economy?
Fucking with their money is one thing Republicans usually would not tolerate. Lowering interest rates will not stop the chaos in the markets or cause prices to go down. That won't happen until Trump desists or Congress intervenes, giving the US economy a chance to recover.
