Federal Reserve just trampled on Trump’s boasting of an economic boom

[wvit1001]

On the one hand — economists always have two hands — it signaled clearly that it doesn’t plan on raising interest rates in the next quarter, or at all for 2019. Trump has repeatedly criticized the Fed in recent months for its decision a raise interests rates under the lead of his appointee, Chair Jerome Powell. The fact that it won’t be raising rates any in the foreseeable future should be welcomed by the president.

But on the other hand, the Fed’s decision to keep rates steady is driven by forecasts that are much more pessimistic than the White House’s view. While the White House expects growth at 3.2 percent in 2019 and at least 3 percent in 2020, the Fed actually cut its prediction of 2019 growth from 2.3 down to only 2.1 percent. It currently predicts an even more disappointing only 1.9 percent growth in 2020.

So even as the president and his administration try to cheer the success of his economic policies — most notably, the 2017 tax cut — the independent experts at the Fed, led by his hand-picked chair, disagree with their rosy predictions.

“And the Fed has marked its growth forecast down,” said economist Paul Krugman on Wednesday on Twitter. “Nobody but the Trumpies believes in the magic of their tax cut.”


https://www.rawstory.com/2019/03/federal-reserve-just-trampled-trumps-boasting-economic-boom/?utm_source=push_notifications

[justincase]

[Truman62]

Keep your Spam to yourself Justin/Dan.

[justincase]

Go fuck yourself, davik.

[Dan]

Federal Reserve just trampled on economic boom

By raising interest rates to stop it or slow it down?  Trump was right to criticize the fed for being too aggressive in raising rates.  Even they admit now they raised them too fast.