https://trading-u.com/xi-jinping-warns-the-fed-against-rate-hikes/
This is a first. A Chinese president interfering with internal policies made by an independent institution that even the United States President is not even supposed to say anything about, especially since China itself has always criticized the United States and the West for interfering with China's internal affairs. LOL Talking about double standard and shameless hypocrisy.
Second, WHY is China so concerned about United States' monetary policy? I thought China is the one that controls the economy and sets its tone and whatever United States and the West do is of no consequence? What's this with the global economy? The West has no influence on the global economy? It's China who has all the power now.
And financial instability? How is United States' hiking up interest rates going to cause financial instability? It's not like the United States has never hiked up interest rates before. Before the pandemic, the Fed. with Yellen was well on its way to gradually hike up the interest rate to end quantitative easing and China never said anything then? What's different now? I didn't see any developing countries bearing the brunt? Brunt of what? Bubble-free asset markets and price stability and positive interest rates on savings for a change, something that the Chinese people have enjoyed for decades with interest rates as high as 5% or even 10% on their savings accounts. Imagine dropping your money off at the bank and earning a 10% interest rate?? I didn't recall any past US presidents ever urging and warning the Bank of China not to hike up interest rates to this high?? And we have certainly never complained about any "brunt" of that?
Most importantly, the Fed. has sound reasons to raise interest rates; the inflation is becoming ridiculous with prices of basic commodities like food doubling in just 1 year and oil prices rising fast with the Russia and Ukraine tension mounting, and the labour market so tight that people who have zero experience in the job that they are applying for getting promoted right away after interviewing with salary increases to match. With Biden's another round of stimulus checks coming, we are going to experience hyperinflation soon if interest rates are not getting hiked. If Xi wants to urge or warn something, he should urge and warn Biden not to hand out more stimulus checks and to make people go back to work and urge and warn his best friend Putin to back off from Ukraine!!
I hope the Fed. is not going to be bullied by this ridiculous interference of internal affairs from China and (hopefully not) the POTUS who basically is a puppet of China (Funny how all the agencies pounced on Trump for him being supposedly influenced by Russia and nobody says anything about Biden's family business ties with China) and continue to do with what's best for our economy.
This is a first. A Chinese president interfering with internal policies made by an independent institution that even the United States President is not even supposed to say anything about, especially since China itself has always criticized the United States and the West for interfering with China's internal affairs. LOL Talking about double standard and shameless hypocrisy.
Second, WHY is China so concerned about United States' monetary policy? I thought China is the one that controls the economy and sets its tone and whatever United States and the West do is of no consequence? What's this with the global economy? The West has no influence on the global economy? It's China who has all the power now.
And financial instability? How is United States' hiking up interest rates going to cause financial instability? It's not like the United States has never hiked up interest rates before. Before the pandemic, the Fed. with Yellen was well on its way to gradually hike up the interest rate to end quantitative easing and China never said anything then? What's different now? I didn't see any developing countries bearing the brunt? Brunt of what? Bubble-free asset markets and price stability and positive interest rates on savings for a change, something that the Chinese people have enjoyed for decades with interest rates as high as 5% or even 10% on their savings accounts. Imagine dropping your money off at the bank and earning a 10% interest rate?? I didn't recall any past US presidents ever urging and warning the Bank of China not to hike up interest rates to this high?? And we have certainly never complained about any "brunt" of that?
Most importantly, the Fed. has sound reasons to raise interest rates; the inflation is becoming ridiculous with prices of basic commodities like food doubling in just 1 year and oil prices rising fast with the Russia and Ukraine tension mounting, and the labour market so tight that people who have zero experience in the job that they are applying for getting promoted right away after interviewing with salary increases to match. With Biden's another round of stimulus checks coming, we are going to experience hyperinflation soon if interest rates are not getting hiked. If Xi wants to urge or warn something, he should urge and warn Biden not to hand out more stimulus checks and to make people go back to work and urge and warn his best friend Putin to back off from Ukraine!!
I hope the Fed. is not going to be bullied by this ridiculous interference of internal affairs from China and (hopefully not) the POTUS who basically is a puppet of China (Funny how all the agencies pounced on Trump for him being supposedly influenced by Russia and nobody says anything about Biden's family business ties with China) and continue to do with what's best for our economy.
