What you actually said. Please note that YOU all capped TOLD for emphasis, not me.
Technically the Fed controls the Fed Funds Rate.
You were either hiding under a rock during trumps presidency, or you just aren't going to acknowledge the way trump works.
The 3/4% drop from Jul/2019 - Oct/2019 was in response to slowing economic growth after the Fed raised the FFR ~2% after Trump took office.
No. The continued drop happened starting just over 10 years prior to that, when Obama took office, and was able to increase job growth by passing his recovery act, after the fannie mae and freddie mac housing bubble.
The 3/4% drop is nothing for 2 reasons. The big one is the Fed has been using QT and QE to control money supply more than rates (see 2 hour video). Additionally, the 3/4% is nothing because the Fed was going back to 0% interest rates anyway due to Covid.
The prime rate, never has, and never will be at zero percent, that's asinine.
The Fed bases it's FFR policy on economic data and projections, not Trump sound bites and tweets.
I think this is just you not willing to acknowledge how trump's presidency was ran. He thought he could, and said he could do it all himself. He didn't want people to do their jobs, he wanted people that would listen to him tell them what to do.
Furthermore, even if I/we to concede that Trump's bitching & moaning equates to TELLING the Fed to cut rates or that Trump somehow seized control of the Fed, to blame inflation on this 4 month window is laughable at best.
"bitching and moaning" Come on now. If you think you are right, then there's no need for the BS adlib. Stick with the truth.
FYI, the economy doesn't happen or change overnight. What four month window exactly? The one where covid was starting, and nothing was going to improve?
This was just you being vague and deflecting.
FYI, note that I posted the video twice, the second time, time stamped to specific section that I reference to
@Buck and company. I feel no reason to "crib notes" a documentary that Frontline did such an excellent job of doing. The video is indexed and chapters labeled. I posted the link for anybody who actually cares to find out and/or have a greater understanding of what's driving inflation.
So you're not here to have a discussion, you're here to post videos that you expect people to just watch for hours, without knowing why? It isn't about "crib notes" for a video, it's about you making ANY kind of effort at making a point to have a discussion.
Ironically, it was posted more in response to those blaming Biden for inflation, you just happened to come along with your equally politically biased narrative where Trump is the bad guy.
You've resorted to using buzzwords, and not actually responding to me. I think it's the 7th time I've said this: "I was very clear in trying to make my point and why", Yet you still haven't responded to it, you just keep trying to twist it into things like" I'm blaming trump, or trump controlled the board of the fed, then try to dismiss where there are three videos of him doing what I said he did, (and there are more). You do get the ONLY THING you wrote for this thread to be on was:
Who is really responsible for inflation?
(That's it. That's all you wrote). I answered it.
Couldn't possibly be that the organization whose mission is to promote maximum employment and stable prices might be the real culprit here. Couldn't possibly be that every other central bank was engaging in similar policies as the Fed. Why look were it makes sense to look, when the Orange Guy makes for such an inviting target.
So you think it wasn't trump that had a hand in it, even when there are multiple videos of him telling them to do it.
Even when one of those videos is trump talking about how the fed wants to raise the rate, with multiple other videos where he repeatedly told them to lower it.
You think what really happened is: "all the central banks, and the fed then changed what they were going to do, not because trump told them to do it, but because their intention was to hurt employment, and destabilize prices"?
(That's your argument here right?)
Couldn't be the fragile-ego, 70 some year old, class-clown, spoiled brat that's had EVERYTHING handed to him, never grown up, never worked an honest day's labor in his life, has never learned to respect people, etc.. wanted a quick boost to the economy that he could never shut up about, without caring how it would come back around. That couldn't be it right? Not the guy, that didn't help the Biden administration changeover, or the one that just picked a date to screw the military in Afghanistan. Couldn't be the guy the is open about wanting to be a dictator to his rivals if he wins. Couldn't be the guy that insults everyone that doesn't kiss his ***. Couldn't be the guy the expects loyalty from everyone, and gives it to none. Couldn't be the guy that insults the mentally handicapped, POWs, Veterans, and Gold Star Families. Couldn't be the guy that insults many heads of state, stereotypes generations, or feels the need to insult teenage girls because they want clean air and water. Couldn't be the guy on trial for lying and cheating the banks and his taxes because he certainly cares about other people and wouldn't want to hurt everyone else right? Nothing he does is ever his fault right?
Couldn't be this guy that doesn't care about people.
