I forget if it was on “Meet the Press” or during the TV confab with Canadian Premier Mark Carney, but Donald Trump hit a homerun once again when he called Fed Chairman Jerome Powell “a stiff.” No kidding.
The Federal Reserve today, comprised of Chairman Powell and regional directors, all with TDS (Trump Derangement Syndrome), refused to lower interest rates while the rest of the world is doing so in spades.
Stiff Man cited “uncertainty” over employment and inflation because of Trumpian tariffs for his recalcitrance to do what is clearly time to do. More likely, he’d rather create a recession than let Trump have economic success.
Now, if you look back to the end of 2024, Powell had no problem dropping rates, even though inflation was still raging, because — bugles and drums please — it was election time, and he wanted to buffer Demofiend chances. Sorry, pal, but it didn’t work — inflation continued and Demofiends were slapped in the face at the polls.
The creation of the Federal Reserve — a central bank — is one of the opening shots of the Demofiends’ plan to centralize control of the country in the Swamp, with their folk in charge, of course.
Historical point to remember: The Fed was created during the reign of the grandfather of Demofiend socialism (communism, take your pick), President Woodrow Wilson. Had the Fed not been created, we might have avoided the Great Depression. Think about that.
It was also during King Wilson’s reign that the nation ratified the 16th Amendment, which made income tax constitutional (other attempts had been struck down by SCOTUS). This, of course, was another massive measure to control the lives of Americans from cradle to grave.
The income tax, by the way, is probably the main impetus for President Trump to push hard on tariffs, for prior to the 16th Amendment and the creation of the Internal Revenue Service (IRS), the nation relied on tariff income. Anyway, we can leave that conjecture for another time and place.