Trump says he ‘made a lot of money’ so he should have a say in when you get a rate cut.
Trump is scholar in business. Plus he is successful without being in the monopoly business. He is right about the Federal Reserve. Integrity is profound condition of independence. Plus the supervision of the Congress is sloppy. Trump’s combative administration in the Department of Justice should correct the wrongs. Thoroughly investigate the systematic practices of the Federal Reserve (since Paul Volcker), for increasing violations and abuses like (bond, stock and commodity) market manipulation, concerted practices, insider trading, unlawful state aid and anti trust. Refer the responsible (actors, instigators, organisers and accomplices) to justice. Specifically for the QEs and other financial market subsidies, interest rate elimination and inflation generation. Prices and interest rates are valuable indicators (instruments) for the economic allocation of capital in free market economics. Demolition of scales and measurements of economic value, compounds financial crime.
On the political aspect, monopolies and cartels are not sustainable for the U.S. or for the world. The damages they have caused for their dismal but discrepant benefit run to tens of US $ quadrillion and counting. They are bankrupt and corrupt and draw everybody in the same abyss of gloom and doom, crime, crisis and chaos. The duty of the president is to keep the nation secure and the people safe. The trust bust directions to the DoJ are lucid and clear. The legal and constitutional significance of this is even more profound as it is elementary. The U.S. is run by the President, the Congress and the administration (of the people), for national interest and concern. Not by the media and market monopolies and cartels for private benefit, complotting and conspiring or otherwise in device, and not ever.
On the election aspect, Kamala Harris has an edge over the Federal Reserve issue. First because she is scholar in law and a law enforcement officer herself, so she can yield professional authority in the DoJ. Second because there are liberal (and constitutional) elements in the anti trust policies like inequality, which the Democrats can seize upon. In the case of the Federal Reserve however anti trust policies have also libertarian streaks, like fiscal, financial and free market integrity, which the Republicans can also suitably seize upon. The same for tax.
On the money aspect, in the donations, the lobbies, the election interference, the abuse of the media and the press and of the other information and communication devices, the case is even more simple. In the light of the claims and the liabilities for the damages caused and for the compensations due, it is clear that the trusts, the monopolies and the cartels own nothing, while they owe everything to the injured parties and the Federal Reserve. Which is national property (institution) of the U.S. and custodian of the US $ currency. Issued in God we Trust, underwritten by the U.S. and protected by the U.S. Army at Fort Knox.
On monetary policy, money is instrument. The delegates of the U.S institutions are not angels of monetary (or moral) sanctity or exorcists of (free) liquidity, which is not evil (per se) anyways. Tributes to fiscal discipline must therefore account of management in economics, which includes capital, money and asset management. Investment in the real (as opposed to the virtual and speculative) economy, is not inflationary because it is controlled and accounted for economic (constructive and productive) end and so drives development and growth. The same stands for consumption, especially rational and for value. Thus the novelty of Bidenomics draws in fact from the policies of Franklin D. Roosevelt and of the New Deal.
The reason the Federal Reserve, did not cave this time to the special and spoiled market threats, is because devotion to moderation as against the standard of monetary extremism, is the new order of the day in interest rate policy.
https://edition.cnn.com/2024/08/09/economy/trump-federal-reserve-rate-cut-powell/index.html
