Trump Slams Fed for Being “Slow to Act”

(Business Insider) President Donald Trump lashed out at the Federal Reserve early Monday as concerns about the economic impact of the coronavirus mounted, arguing that the central bank has put the US at a disadvantage amid the outbreak.

“As usual, Jay Powell and the Federal Reserve are slow to act,” the president wrote on Twitter, referring to his handpicked chairman of the central bank. 

Trump said that other nations “are much more aggressive” on monetary policy than the US and repeated calls for the independent Fed to cut borrowing costs. The president has renewed attacks on the central bank amid concerns about the fast-spreading respiratory illness COVID-19, which economists have warned would chip away at global growth.

“The U.S. should have, for all of the right reasons, the lowest Rate,” Trump continued. “We don’t, putting us at a………competitive disadvantage. We should be leading, not following!”

Last week, stocks suffered their worst streak of losses since the financial crisis after the government said that COVID-19 would likely spread through communities in the US. The White House has touted potential tax cuts and other measures to ease economic jitters, though no official plan has been released. 

Powell signaled on Friday the central bank would be open to another rate cut if necessary…

“The coronavirus poses evolving risks to economic activity,” Powell said. “The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.”

[Read more…]


Mick Jagger and Dave Grohl Team Up for Lockdown Anthem

(Associated Press) Mick Jagger and Dave Grohl have teamed up for a hard-rock pandemic anthem called "Eazy Sleazy." "It's...

How Bill Gates Impeded Global Access to COVID Vaccines

(The New Republic) On February 11, 2020, public health and infectious disease experts gathered by the hundreds at the World Health Organization’s...

What Skyrocketing Home Prices Say About Inflation

(Stefan Gleason, Money Metals News Service) Anyone who says inflation isn’t a problem hasn’t tried shopping for a new home recently.

Poll: 15% of Americans Worse Off a Year Into Pandemic

(Associated Press) While most Americans have weathered the pandemic financially, about 38 million say they are worse off now than before the...

Soros-Funded, Soft-on-Crime DAs Face Recalls

(Joshua Paladino, Headline USA) Philadelphia District Attorney Larry Krasner won the 2017 election on an anti-cop, pro-criminal platform, and murders have climbed 29...