Trump Takes Over the Fed???
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Okay. Forget about Google earnings. Forget about anything else that’s coming out of Wall Street and business news today. This is the story. This is the story. I thought Andrew Ross Sorkin on CNBC today was going to blow a gasket. The Wall Street Journal today puts out a piece, Andrew Rustica, Nick Timmaros and Alex Leary. Trump allies draw up plans to blunt Fed’s independence. So I saw this and I started reading. I started reading and basically they’re talking about a group of Trump allies that basically say that Trump should be able, should be consulted on interest rate decisions when he becomes president. He should be a check on the central bank. Other things in here where they,
considering putting the president on the Federal Reserve Board. The Trump campaign put this out. Let us be very specific. Unless a message is coming directly from President Trump or an authorized member of his campaign team, no aspect of future presidential staffing or policy announcements should be deemed official. And I read through this and again, I don’t believe it.
There is no, I’m being honest here, they don’t cite, there’s not a single source. They don’t name a single person that’s in this magical group that is putting this plan together. That’s why I find it very, very hard to believe. To me, it’s almost like it’s a hit piece to some degree. To me, it’s let’s get people really, really worried and worked up about Donald Trump. I’m sorry.
I find it very hard to believe it. And quite frankly, I’m a little dismayed because something like this is going to go a long way with the Biden administration. They’re going to use a story like this and see, see, Trump wants to be a dictator. I do not believe in publishing crap like this unless you’re going to cite some sources. Who’s putting this plan together? Because again, you think about this to some degree.
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Let’s say something like this went through. What happens if a big lib, a big modern monetary theory type president comes in and wants to print and print and print and print as far as the eye could see? Not like we’re not doing that already, but wants to put it on steroids. Listen, do I have massive problems with the federal government? Absolutely. I don’t like its mandate. I don’t like what they do.
quite frankly, if I was to do anything with the Fed, I’d hand the thing over to Ron Paul if it was up to me, quite frankly. But I’m seeing through this. I am seeing through this. I, again, I hope I’m right. I hope I’m right. Because if something like this were to be true, this is really taking a ridiculous step. You do not want to have the President of the United States
involved with again, they, you know, they can jawbone them Trump jawbone Jay Powell a lot. I’ve sinking suspicion that Biden will probably doing it soon if the Federal Reserve doesn’t lower interest rates. But a step like this is completely out of bounds. You know, I think the Fed’s mandate should move more towards you know what, fiscal policy and balancing the budget. The Fed should be jawboning Congress quite frankly.
on doing the right thing and getting spending under control. So again, I have a funny feeling you’re going to start hearing more and more about this. The left and the Biden administration is going to pick up on this and they’re going to run with it. They’re going to run with this. This is a political football that seems to me was just created by the Wall Street Journal and the the donkeys got the ball now. Watchdog on wallstreet .com.