Friday, September 4, 2020

Jerome Powell of The Fed concedes that Trump was right all along

 This is the unique quality about Donald Trump.  He's a hard-nose business man who not only learned the real estate business from the ground up, but also graduated from the Wharton School of Business.  He knows what makes the economy run more than any other past president.  Joe Biden and Barack Obama were economic illiterates.  They didn’t have a clue and .05% GDP for eight years of the Obama regime provess the point.    

Fox Newsreports Federal Reserve Chairman Jerome Powell admitted last week at the “virtual” Jackson Hole symposium that the Fed has undershot its 2% annual inflation target consistently for the last several years.

The Fed is tacitly admitting that its deflationary monetary policy has restrained growth and held down wages.

More here

1 comment:

  1. One thing I leared about economics is that it is complex dynamic
    that no one person could understand. Even the Market Mavens
    got this wrong. Obama so pooched the economy that the economy
    was like bull in a chute at the rodeo. Even the COVID scare and
    national civil inssurection could not stop the economy from coming
    back to its pre-COVID losses. S&P and Nasdaq have recovered and
    exceeded their pre-COVID all time highs and the Dow should be back
    where it was before the crisis hit. Trump was right all along!