Hard Evidence Trump will Benefit from the Rate Cuts He's Demanding

Trump has been demanding rate cuts from the Fed ever since he took office. Lately he’s been even more vehement, denouncing Fed chairman Jerome Powell for not dropping rates even more and comparing him to China’s Xi as the “enemy.” It’s no secret that Trump is pushing lower rates because he’s terrified of an economic…

American Manufacturing Sector Is Already in a Recession.

Did you know that the manufacturing sector of the U.S. economy was already in a recession?   Manufacturing fell at a 2.2% rate in the second quarter after a 1.9% drop in the first three months of the year. This is not the dreaded Media trying to rattle Americans.  It’s those Trump disloyalists — according to the orange…

Stephen Moore's nomination appears deader than his brain

This never should have been close. Stephen Moore is a well-known supply-side, trickle-down hack who has been consistently wrong about nearly everything for decades. Which is naturally why Trump loves him. (Actually, Trump’s affinity for Moore probably stems from the fact that Moore co-wrote a book, Trumponomics, with Trump’s name in the title.) Of course,…

Herman Cain's nomination for Fed board 'all but dead'

Wait, there’s a limit to the absurdities Republican senators will accept when it comes to Donald Trump’s “presidency”? I’d assumed they’d confirm the entire cast and crew of Duck Dynasty to Cabinet positions if Trump asked them to. Politico: Sen. Joe Manchin (D-W.Va.) said in a C-SPAN “Newsmakers” interview with POLITICO that he was unlikely…

Janet Yellen: Trump doesn't know squat about economics

In an interview today with Kai Ryssdal of Marketplace, former Federal Reserve Chair Janet Yellen did not mince words when it came to Donald Trump’s (lack of) qualifications to be president. Yellen, who was famously too short to be DJT’s pick for Fed chair, stated point-blank that Trump has a poor grasp of economics —…

Trump thought Janet Yellen was too short to run the Fed

Donald Trump is upset about his own decision to tap Jerome Powell as Fed chair, no doubt because he wants an unsustainable economic sugar high that doesn’t end until he’s out of office (i.e., because he doesn’t care about the country or anyone in it). Powell has been raising interest rates because that’s what Fed chairs…