'Stomachs dropping like Truth Social stock': Trump ridiculed as Fed rate cut boosts Harris
Republican Sen. Tommy Tuberville (R-AR) took to X to complain Federal Reserve Chairman Jerome Powell had prioritized politics over economics.
"Proud of Fed Governor Miki Bowman for bucking Jay Powell," Tuberville wrote. "The Fed’s drastic rate cut is shamelessly political. Our nation’s central bank has no business moving rates this close to an election and is clearly trying to tip the balance in favor of Kamala Harris."
As one of Tuberville's critics pointed out, Powell is a Republican who was appointed by Trump in 2018.
I just do not get it. Tuberville, Trump and many other idiots spent months bitching about rates too high, consumer debt too high (it has been for over a decade), and people can not afford to finance a home for first-time buyers...
They made the economy, FED rates, and stock market...political.
Now the FED sees some numbers and decides it's time to cut rates (50 basis points) to help Americans and the FED sees it could cut rates more by the end of the year (helping Americans more)...
What in the hell did Tuberville expect after making the economy so political that their fear-mongering tactic backfired especially when the S&P 500 briefly hit a record high today although Trump continues saying the markets under him are outperforming the current markets under Biden/Harris...
The stock market has always been one of Trump's favorite metrics to reflect how he leads America as a business. It looks bad for Trump to keep trumping the idea that the stock market is performing badly under Biden/Harris or that only he can fix the stock markets.
Yet, Trump may be confused and getting mixed up about his DJT stock.
wrbtrader
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