Posted BY: Joe Hoft
The Fed under Jerome Powell is trying to worm its way out of the disaster it cooked up. Karma has finally hit the Fed.
Under President Trump, Fed Chief Jerome Powell raised the rates so much that he almost created a market collapse himself. President Trump had the economy smoking and Powell couldn’t let that happen so he raised rates quarterly for President Trump’s first couple of years. Had Powell left the rates alone, the US economy would have been even better.
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Under Obama, the Fed kept the rates at 0% for 7 years helping Obama’s economy. Yet none of that with President Trump. Who says the Fed is not political?