Another threat from the President, this one not involving Iran:
President Donald Trump on Friday demanded that the Federal Reserve slash interest rates or else he will cut off trade with countries with which the U.S. maintains trade deficits.
Trump issued the sweeping ultimatum in a Truth Social post reacting to a much-stronger-than-expected monthly jobs report by urging the central bank and its chairman, Kevin Warsh, to “get smart” and cut rates. [CNBC]
From a home in the extended family, if memory serves.
A week out on his RNC, (you’ll have to dig around in that post) and he may be just discovering Republicans are dubious about attending; and then add in his fading and twisted endorsement power with which he loses even when he wins, with such failures as Senate nominee Ken Paxton (R-TX) and Senator Husted’s (R-OH) apparently failing reelection bid; and a Republican Party that is beginning to realize that November could be quite embarrassing. If he’s perceived as continually weak, attendance will be sparse, potential allies may insert distance, and minions, through which he projects power, could walk away rather than risk, well, jail at worst, and that’s fairly awful, especially when Trump is out of power.
So he’s flailing at the metaphorical control panel, pulling levers and yelling orders and threats, hoping to regain some of his perceived power. Like most arrogant amateurs, it doesn’t matter how much he fails, he still thinks he’s invincible and, in this case, dropping interest rates will somehow spur the economy without increasing an inflation rate already making voters uneasy.
That’s right. If he gets his way, an increasing inflation rate might finish him off.
Federal Reserve Chairman Warsh was nominated, quite recently, by President Trump, and confirmed by a Republican-controlled Senate on a 51-45 vote. That said, Warsh does not seem to qualify as Trump’s creature, as he’s not advanced proposals to lower inflation rates, but rather held them steady while hinting they might go up.
Consequently, Trump may be saved from himself by Warsh, only to go into an RNC that makes him look awful anyways. This is what happens to the mendacious amateur. They’re idiots.
