Fri, 26 October 2018
Mick Mulvaney was out talking to the press this morning, lamenting the fact that "every time things are getting better, the Fed pumps the breaks".
What he's suggesting is that the Fed should leave rates low because it looks good. This is exactly what the Fed did during the late 90's and it led to the collapse of our housing market.
So what's going on here? Well, it's pretty simple. The president likes being able to take credit for a strong economy and every time the Fed raises rates it slows things down. Trump doesn't really CARE about the economy. If he did he wouldn't be complaining every time the fed moves to bring rates back into what can be considered historical norms.
I continue to say, nobody is looking out for you and this is just another example of that. The president does not have your long-term interests in mind. He is concerned only with the short-term political gain he can get from a strong economy.