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Yes, it was Obama's economy until they start pushing the recession idea, now it's Trump's economy.
Meanwhile, the number of Americans filing applications for unemployment benefits fell sharply, and consumer spending grew at twice the rate that was estimated.
If the economy is so strong why is Trump trying to bully the Fed into lowering interest rates?
If the economy is so strong why is Trump trying to bully the Fed into lowering interest rates?
Trump has been saying that the FED was raising rates too fast for over a year now, back when you guys were saying the economy was so great because of Obama.
So to recap, Trump was saying that the FED was raising rates too fast back before anyone was talking about recession.
US retail sales rose solidly in July in a sign of consumer optimism
The Commerce Department says retail sales rose a healthy 0.7% last month, after a 0.3% gain in June. Online retailers, grocery stores, clothing retailers and electronics and appliance stores all reported strong gains.
Consumer spending, the primary driver of the U.S. economy, remains healthy Job growth is steady, the unemployment rate is near a 50-year low, and wages are rising modestly, which bolsters Americans’ spending power.
Trump has been saying that the FED was raising rates too fast for over a year now, back when you guys were saying the economy was so great because of Obama.
So to recap, Trump was saying that the FED was raising rates too fast back before anyone was talking about recession.
"...Trump was saying..." Most credible economists (that rules out Trump's flunky whack jobs Larry Kudlow and Peter Navarro) believe that the Fed's rate hikes were within reasonable parameters given the circumstances at the time. Some economists will concede that maybe one or two of the hikes were unnecessary but I can't think of a single credible economist who thinks that Trump was right and the Fed was wrong. Personally I trust Powell's judgement over Trump's by about a thousand to one.
Trump has been saying that the FED was raising rates too fast for over a year now, back when you guys were saying the economy was so great because of Obama.
So to recap, Trump was saying that the FED was raising rates too fast back before anyone was talking about recession.
So you feel the current rates are market rates for money? That is, you feel that I or you would take our IRA and lend it to someone to buy a house...tie it up for 30 years....for 4% or so?
Answer: of course not. The only reason Trump is "thinking" (he really doesn't think, he reacts) is that he knows the economy is floundering and the tax cuts didn't work and he screwed up vast numbers of American corporations and plans....and he thinks giving away more free money is the answer.
If the economy really worked that way we should all stop working and just tell Trump to print a little more, give negative interest rates and send us all checks.
The market is speculative. When Trump won the election, before he assumed the presidency let alone passed tax cuts, the market soared because they speculated those tax cuts would be passed. All that money was made in 2016.
Now the market is long in the tooth, and it needs a correction.
If the economy is so strong why is Trump trying to bully the Fed into lowering interest rates?
He is worried about the future. He has decided to confront China rather than "kicking the can down the road." That may have some economic costs, but it sure beats surrender, at least while we still control some intellectual property.
If the economy is so strong why is Trump trying to bully the Fed into lowering interest rates?
It is spelled R E- E L E C T I O N. He knows he is on thin ice, and has failed at every great idea he has had. If the economy goes south, he goes north in 2020.
He has to do something between now and then to keep his base from waking up to the truth, and his handouts are all he has.
He is worried about the future. He has decided to confront China rather than "kicking the can down the road." That may have some economic costs, but it sure beats surrender, at least while we still control some intellectual property.
Nonsense. See post #6514 for the correct answer.
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