Contrary to the popular narrative in the media, Donald Trump is running a policy focused campaign.
Trump’s leaning into the themes about the forgotten men and women of America that won him the White House in 2016.
And Donald Trump made this promise that will have Wall Street elites in crisis mode.
Donald Trump appointed Jay Powell to the position of Federal Reserve Chairman to replace the disastrous Janet Yellin.
Trump now admits Powell was one of his biggest mistakes.
In an interview with former top economic advisor and Fox Business host Larry Kudlow, Trump said he would not reappoint Powell as Fed Chairman if he wins a second term.
“I would not reappoint him. I thought he was always late, whether it was good or bad but he was always late,” Trump stated. “I was surprised he was reappointed. Probably he got reappointed because they knew I didn’t like him much.”
Powell famously got inflation wrong, claiming in 2021 that rising prices were “transitory.”
Powell also enabled Joe Biden’s socialist spending spree – which fueled skyrocketing inflation – by continuing the print, borrow, and spend policies of the past chairmen of the unaccountable Federal Reserve.
Now Powell will plunge the economy into a deep recession by raising interest rates to combat the inflationary cycle Powell helped set in motion.
Trump blasted Powell for his performance while Trump was in office for keeping interest rates artificially high, which slowed economic growth.
“I felt he was not good, in fact I was very tough on him. If I wasn’t I think we would have had much higher interest rates for much longer,” Trump added. “We had a boom, and it was primarily, one time it looked like I was going to come down on him very hard and he dropped them so much that it was like, it was, he dropped them so much at one time.”
Since coming into existence in 1913 the Federal Reserve has been very good for the big bankers and Wall Street titans by running a nonstop printing press to pump new money into the system.
But an economy controlled by central bankers and their decision to raise or cut interest rates creates a boom or bust economy that crushes middle class Americans.