Zero Hedge: Well that didn’t take long. We noted previously that Trump demanded a rate-cut – gets one, but the dollar soars and stocks tank – who will be blamed for that?
And now the President has responded by slamming Powell who “let us down”, telling his followers that the market wanted to hear that “this was the beginning of a lengthy and aggressive rate-cutting cycle which would keep pace with China, The European Union and other countries around the world.”
Powell over-promised and under-delivered to a market that will “take a mile when given an inch”. more …
Opinion: The man who built a multi-billion dollar empire with his name plastered all over the world on magnificent buildings is right. But what the president didn’t say is – the Fed has to go.
What the Federal Reserve is doing is predicting tomorrow’s moves in the economy based on yesterday’s data. If the Fed wasn’t wrong so much I could give them a pass, but it was only last October 3, 2018 that the same Fed chief announced that interest rates would go up 3-4 times. The global market melted down until the Fed walked it back.
Markets are efficient and can determine interest rates based on supply and demand not PhD’s who have no idea what will happen tomorrow.
Global economic turmoil is an end times marker:
Bible prophecy tells us that financial turmoil is one of the 4 judgments found in the 3rd horseman of the apocalypse (Revelation 6:5-6) that kick off the 7 years of tribulation.