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Trump pressuring the Fed to keep interest rates low is exactly why we are in this mess in the first place. Had he done the responsible thing and allowed the Fed
by qqqwerty 5y ago
Trump pressuring the Fed to keep interest rates low is exactly why we are in this mess in the first place. Had he done the responsible thing and allowed the Fed to raise rates while the economy was hot, then we would have had more wiggle room when covid hit.
If you truly think Trump could resolve this issue, then please explain exactly what he would do to resolve it. I hate to break it to you, but more liberal tears are not a solution to higher inflation.
- thehappypm 5y agoTrump lowered interest rates to near 0%, what are you talking about exactly?
- JoeAltmaier 5y agoJust wrong. https://www.statista.com/statistics/187616/effective-rate-of-us-federal-funds-monthly/ https://www.statista.com/statistics/187616/effective-rate-of...
- thehappypm 5y ago…
- Izkata 5y agoWhat do you mean wrong? That link confirms what they said.
- JoeAltmaier 5y agoOh, you mean a symbolic lowering at the end of term to get votes? Yes that happened. But rates were not zero at any other time during that term. One can speculate that they would have gone right up again had the election decided differently.
- thehappypm 5y agoTrump was president in 2020 when the pandemic hit and interest rates dropped, are you forgetting that?
- JoeAltmaier 5y ago...just in time for the election
- misiti3780 5y agoBiden's spending policies are also to blame.
- qqqwerty 5y agoThe CARES Act was signed by Trump and was $2.2 trillion. The American Rescue Plan was signed by Biden and was $1.9 trillion. And yet you blame Biden? Meanwhile the current Fed chair, a Trump nominee, has way more control over inflation and was responsible for raising interest rates way too late. And yet you blame Biden? I am still waiting on an answer as to what exactly Trump would do to curb inflation if he were in office. As far as I understand, wishful thinking and partisanship does not impact wheat prices.
- thehappypm 5y agoAmerican Rescue Plan may not have been necessary. Biden became president when vaccine rollout was already happening; we were entering a new pandemic phase of hope and recovery. I fully blame ARP for inflation being 8% and not 5%.