Donald Trump said his Federal Reserve pick, Kevin Warsh, could drive U.S. economic growth to 15%, an extremely unrealistic figure that highlights the political pressure Warsh would face if confirmed. Trump called choosing Jerome Powell a “big mistake” and emphasized he wants a Fed chair who will lower interest rates. The U.S. economy typically grows around 2–3%, and 15% growth has occurred only in rare, extraordinary circumstances. Trump’s comments suggest he is unconcerned about inflation and is counting on Warsh to boost the economy ahead of midterm elections. However, Warsh’s confirmation may be delayed because Senator Thom Tillis has vowed to block Fed nominees while the administration investigates Powell.
Personally, I'm interested to see how cryptocurrency responds to this destruction of the US dollar. Should be fun. Trump wants to goose the economy heavily before midterm elections.
Posted by Anen-o-me
1 Comment
He also said he could drive down prescription drug prices by 400%. Unless they are going to pay me $300 for something that used to cost me $100, that doesn’t math out.