Trump: Fed Not Helping My Reelection Campaign Enough

Here’s a trip down memory lane:

September 12, 2016: Candidate Donald Trump whines that the Fed should be raising interest rates, but won’t because it’s protecting the economy for Obama. “Any increase at all will be a very, very small increase because they want to keep the market up so Obama goes out and let the new guy … raise interest rates … and watch what happens in the stock market.

Two years pass, during which the Fed raises interest rates….

June 22, 2019: “I am at Camp David working on many things, including Iran! We have a great Economy, Tariffs have been very helpful both with respect to the huge Dollars coming IN, & on helping to make good Trade Deals. The Dow heading to BEST June in 80 years! Stock Market BEST June in 50 years!

Today: “Despite a Federal Reserve that doesn’t know what it is doing – raised rates far too fast (very low inflation, other parts of world slowing, lowering & easing) & did large scale tightening, $50 Billion/month, we are on course to have one of the best Months of June in US history….Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!

Two years ago Trump said the Fed was raising rates too slowly. Today he says they raised rates too fast. If anybody bothers to ask—and it hardly seems worth the trouble—I’m sure he’ll say that he’s always wanted low interest rates. He did say he was a “low interest rate person,” after all. In any case, this gives him a handy, demagoguish excuse to haul out when the economy declines on his watch because he forgot to time his tax cut to help his reelection campaign.

Hey, remember back when Trump said he had been against the Iraq War from the start, even though he wasn’t? Good times.

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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