3 ms·
The Fed dropped the ball by keeping rates low. Their choice to keep them artificially low created mountains of problems that we’re still suffering from.
by Red_Leaves_Flyy 2y ago
The Fed dropped the ball by keeping rates low. Their choice to keep them artificially low created mountains of problems that we’re still suffering from.
- lazide 2y agoNotably at least partially due to political pressure from Trump - including threats to fire the chairman of the Fed - to avoid higher interest rates and even defaults on his and his families extensive real estate holdings. [https://apnews.com/article/2a21e92ed9129e91e713495c9ef50050 https://apnews.com/article/2a21e92ed9129e91e713495c9ef50050] [https://www.hindustantimes.com/business-news/kushner-companies-spent-the-trump-years-dealing-with-declining-valuations-and-debt-renegotiations/story-f9GrWgVC3jK86pgiZiOKTM_amp.html https://www.hindustantimes.com/business-news/kushner-compani...]
- Red_Leaves_Flyy 2y agoIn the Antithesis of a trump supporter but don’t make it seem like Obama couldn’t have done anything when he benefited from the low rate environment too.
- lazide 2y agoDid Obama threaten to fire the head of the Fed if he raised rates? Or say anything, actually? Because I don’t remember any of that. Because if he had, then he’d be easy to blame. If he hadn’t then it’s squarely on the fed isn’t it? Since Trump explicitly did take action, why should he not get blamed for his part in it?