Ever since Donald Trump won the presidency, the Federal Reserve has been aggressively hiking interest rates. They announced another interest rate hike today and promised more in the future.
The Federal Reserve raised its key interest rate Wednesday for a fourth time this year but lowered its forecast to two hikes in 2019 amid the recent stock market sell-off and uncertain growth prospects.
“The economy has continued to perform well,” Fed Chairman Jerome Powell said at a news conference. But, he added, “We have seen developments that may signal some softening … In early 2018, we saw a rising trajectory for growth. Today, we see growth moderating ahead.”
The central bank’s latest move, which comes amid President Donald Trump’s repeated criticism of Fed rate hikes, is expected to set off a domino effect across the economy, bumping up rates on credit cards, home equity lines of credit and adjustable-rate mortgages.
As expected, the Fed raised the federal funds rate – which is what banks charge each other for overnight loans – by a quarter point to a range of 2.25 to 2.5 percent. It marked the central bank’s ninth hike since late 2015.
They’re trying to weaken the economy so it will be more difficult for Trump to win re-election in 2020. This idea that the Fed is not a political institution is total and complete bullshit.
The Fed kept rates at zero percent for nearly the entire eight years Barack Obama was in office. This created an enormous bubble and now they’re preparing to burst the bubble with these interest rate hikes. It just so happens that they’re doing it with Trump in the White House.
And when you add on to the fact that the United States is $22 trillion in debt, these interest rate hikes are just going to make paying the interest on that debt even more expensive. It is setting up a potentially dire economic situation.
It’s time to abolish the Fed. It’s nothing but an institution of Jewish usury which engineers booms and busts to consolidate wealth for powerful Jews.