Here’s the audio of yesterday’s get-together with my friend Gard Goldsmith, who hosts the Liberty Conspiracy podcast. We talked about how free enterprise could Make America Great Again. My segment begins at about the 59:0 mark:
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About the Trump vs. Powell controversy. Trump came out publically and admonished Powell for not lowering interest rates.
Trump does not understand that the Fed does not control interest rates directly, and the Fed Funds rate, which the Fed does set, is set by following T-Bill rates. You can research this yourself by using these search terms:
the fed follows interest rates elliott wave
https://www.newsmax.com/finance/streettalk/federal-reserve-stock/2024/09/27/id/1181977/
Trump is misinformed on many topics, one big reason is that he doesn’t read, another is his arrogance, he thinks he knows everything and is the smartest guy in the room. I have a very low opinion of ego maniac Trump and his big mouth – threatens everyone, constantly reversing his positions as reality sets in.
If you want low rates then inflation must be tamed, and that means federal spending must be lowered – this Trump is not going to do when he proposes a record military offense budget. If you want lower rates then encourage people to save, pay a fair rate on savings, stop trying to get consumers to spend every dime they have.
IMO Trump is in for a big surprise if interest rates surge higher in the next advancing wave. And the Fed will not be able to stop it, nor will Trump, and if they try to print it will only force rates even higher.
IMO there is a whopping ass funding crisis for Big Gov directly ahead.