You were either hiding under a rock during trumps presidency, or you just aren't going to acknowledge the way trump works.
So because Trump is an A-hole that means he seized control of the Fed??? Interesting.
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 prime rate, never has, and never will be at zero percent, that's asinine.
You may want to review the FRED chart, there was no continued drop. The FFR dropped ~5.25% (to ~0%) in a little over year in response to the mortgage/housing crisis. FFR went to near zero and remained there from 2009 - 2016. Furthermore, I thought we were talking about Trump, not Obama. This begs the question (again) so was Trump TELLING the Fed what to do during the Obama years?
I didn't say the Prime rate was zero, I said the FFR was zero. Generally when people discuss interest rates and the Fed, it's a given that the rate(s) we're talking about is the FFR/FRED. I have no idea why you're referencing the Prime Rate instead of the FRED in discussion about Fed policy; FFR/FRED is set directly by the Fed, the Prime rate is only influenced by Fed policy.
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.
I know how Trump ran his presidency, but just because he's an overbearing A-hole, doesn't mean he was controlling Fed policy.
"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.
No it wasn't me being vague and deflecting. You providing videos of Trump whining about Fed Policy as proof that he was somehow setting Fed Policy. I specified the 4 month period July-Oct/2019. I was actually quite specific not "vague and deflecting."
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.
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.
You answered it by inventing an politically biased narrative about how Trump was controlling Fed policy.
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?)
No, I don't think Trump running his hole resulted in the Fed changing policy direction. I managed secondary marketing for my mortgage company for years (ie timing rate locks to maximize interest rate spreads). The Fed telegraphs it's moves and tells us what data they're watching and what rate changes to expect if metrics do A, B, C or D.
I didn't say the Fed intended to hurt employment or destabilize prices, I said the exact opposite.
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.
While your description of Trump is accurate in many ways, that doesn't mean he controls or even influences the Fed by bitching and moaning at press conferences. If you have any real proof that Trump was responsible for Fed policy changes beyond him whining to the camera, I'll be glad to look at it. Otherwise, you seem to have an overinflated idea of how powerful Trump's pity parties are when it comes to the Fed. POTUS always ******* about rising interest rates going into elections.
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