President Trump is considering dumping Fed chief Jerome Powell after his disastrous comments about a continual raising of the interest rates.
The stock market has lost about 16% of its value in the aftermath as the Dow Jones average has dropped 4,500 points and cut people’s 401k s by a vast amount. Before Powell spoke out, the market was moving upward at a steady pace and people’s 401k s were getting fatter by the day.
Powell should have already been fired, along with any other Fed board member who is trying to destroy the US economy. There is no excuse for keeping him in charge.
Most Americans may not know that it is the Fed that has created this market selloff. By firing Powell the President would communicate to Americans the real cause of their life savings being decimated. Also, firing Powell would send a message to the Fed and lawmakers not to steal from working American men and women (any more than they already have)!
By raising rates the Fed lowered every American’s net worth while increasing the amount of US debt interest payments on American tax payers for decades to come. Each interest rate increase increases the interest payments on the US debt and now Powell’s efforts equal a half a trillion dollars in additional annual debt interest payments alone.
But now there is great news for Christmas!
President Trump is discussing firing Powell before he completely destroys the US economy.
BREAKING: Trump has discussed firing Federal Reserve chief Jerome Powell as his frustration has intensified after this week’s interest-rate increase and months of stock-market losses.
Advisers close to Trump aren’t convinced he will try to do it, but say he wants to.
— Jennifer Jacobs (@JenniferJJacobs) December 22, 2018