Not Making Many Headlines: Worthless Fed Chairman Jerome Powell Meets with Trump in White House

“This is a GREAT four-month start to any year,” exclaimed CNBC’s Rick Santelli as brand new economic indicators show inflation is down, incomes are up, and the trade deficit is narrowing — shattering economists’ expectations once again.

• INFLATION IS DOWN: “Inflation rate slipped to 2.1% in April, lower than expected, Fed’s preferred gauge shows,” CNBC reports.
• INCOME IS UP: Personal income increased 0.8% in April — “almost TRIPLE the expectations.” “They’re powerful numbers — up 0.6% in January, up 0.7% in February, up 0.5% last month, up 0.8% this month. This is a GREAT four-month start to any year.”
  • CNBC: “The income numbers, really, for the first four months of year — they’re stellar … Why don’t we give credit where credit is due? Income really shooting up.”
• TRADE DEFICIT NARROWS: It was the largest monthly decline in the trade deficit on record.
  • CNBC: “We cut it in HALF!? … This really does underscore how the movement of goods and services has really changed due to a variety of tariff-related issues.”

This comes one day after President Trump met with “Too Late” Jerome Powell at the White House where the 47th President lectured the fickle Fed Chair on lowering rates.

Yahoo Finance reported:

The face-to-face encounter follows months of Powell criticism from Trump and pressure on the Fed to ease monetary policy.

The Fed said in a statement that Powell met with the president to discuss “economic developments including for growth, employment, and inflation.”

Powell, according to the Fed, “did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook.”

The chair said he and his colleagues on the Fed’s rate-setting committee will make decisions about monetary policy “based solely on careful, objective, and non-political analysis,” the Fed added in its statement.

That is not true. Powell is always slow to react to economic information and especially when it has anything to do with President Trump.

Powell has so far refused to reduce interest rates despite the excellent economic news that continues to make headlines.

President Trump slammed the failed Federal Reserve Chair Jerome Powell in April after Powell hinted at delaying interest rate cuts.

Trump called for Powell’s termination before he does any more damage to the lives of tens of millions of American workers.

President Trump:  The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!

President Trump is right. Jerome Powell is a disaster.
The only question is whether this is intentional or if he is just that inept.

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