BREAKING: Federal Reserve Chair Jerome Powell enrages MAGA world by stating the blunt truth about Donald Trump, says that there is "significant uncertainty" about where his disastrous policies will "settle" and what their "lasting effects" will be.
Nothing infuriates Republicans more than cold hard facts...
“There is significant uncertainty about where all of these polices will eventually settle and what their lasting effects on the economy will be,” Powell said at the Fed summit in Wyoming.
Specifically, he pointed to Trump's tariffs, his immigration crackdowns, and his plutocratic tax cuts. The Fed is trying to discern if these policies will be temporary or if they will permanently transform the American economy.
Powell stated that the Fed is trying to grapple with two major problems: inflation is rising (which would encourage higher interest rates) while the labor market is weakened (which would encourage rate cuts).
The jobs report released earlier this month was so disastrous that it prompted Trump to scapegoat and fire the commissioner of the Bureau of Labor Statistics. Rather than adjust his policies to grapple with the problem, he claimed that the numbers were politically skewed. The report stated that the American economy added just 73,00 jobs last month, far below economists' predictions. Unemployment rose to 4.2% from 4.1% the prior month. On top of that, the monthly totals for both May and June were revised down by 258,000 jobs in total.
“In the near term, risks to inflation are tilted to the upside, and risks to employment to the downside—a challenging situation. When our goals are in tension like this, our framework calls for us to balance both sides of our dual mandate,” said Powell at the summit.
And while he added that the effects of Trump's tariffs are "clearly visible," the Fed still isn't certain if they are simple causing a one-time spike in prices or if they're going to fuel a longer trend of inflation. Trump has inflicted chaos into our economic model and the Fed is still scrambling to catch up.
“We expect those effects to accumulate over coming months, with high uncertainty about timing and amounts,” Powell continued.
“While the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers,” Powell added. “This unusual situation suggests that downside risks to employment are rising. And if those risks materialize, they can do so quickly.”
Concerns aside, Powell suggested that the Fed might pursue a rate cut at its September policy meeting.
"The baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," he stated. He reminded listeners that such a rate cut could help boost job growth, but risks higher inflation.
Trump has long been agitating for a rate cut and has floated the idea of firing Powell to achieve one. Essentially, his profound mismanagement of our government has now backed Powell into a corner where a rate cut increasingly seems like the only option available. The tariffs have devastated our economy and now the adults are being forced to clean up Trump's mess.
Please retweet and ❤️ if you're grateful for Jerome Powell's steady leadership!
Capitol Police Officer Michael Fanone was tased on January 6th until he went into cardiac arrest and his heart stopped. Donald Trump pardoned his assaulters and called them “patriots.”
RETWEET if you stand with Officer Fanone against Trump and the GOP!
This is veteran Thomas Begay, one of the last two living Navajo Code Talkers from World War II. The Trump Administration is removing Navajo Code Talkers from military websites, claiming it is “DEI.”
RETWEET if you stand with Begay against Donald Trump!
🚨NEW: House Republicans are planning to impeach Federal Judge James Boasberg after he stopped the Trump Administration from possibly illegally deporting Venezuelans to El Salvador using a wartime law from 1798.
RETWEET if you stand with Judge Boasberg against the GOP!
This is 4-Star General Randy George, the U.S. Army Chief of Staff. Serving for over 40 years, George has received the Purple Heart. Donald Trump and Pete Hegseth are planning to fire him in the coming days.
RETWEET if you stand with General George against Trump!
🚨NEW: Former GOP Rep. Adam Kinzinger slams Trump for abandoning Ukraine: “You, Trump, are a traitorous piece of shit.”
RETWEET if you stand with @Kinzinger against Donald Trump!
Members of the 2004 Alliance Aviators football team! On Friday, August 23 we are honoring the 20th anniversary of the MAC championship team and the first playoff win in Alliance Football history! Click the link for more information and to sign up.
https://t.co/gEvDBiG75j
If you would’ve told me we’d be on this list this summer I would’ve laughed in your face…. Unreal job by Braun and Collins this year! Cannot wait to see where they take it next year
A big thank you to Browns Director Hanna Lee and to Chris Medaglia for the best Cleveland Browns Showcase to date. Well attended. Players worked hard and competed . A good number D2 and D3 coaches in attendance. Coaches were awesome in leading drills and tests. Next year be there