Occupy Democrats -
The conservative Wall Street Journal stuns MAGA world by ripping into
Donald Trump with a scathing editorial in defense of Federal Reserve
Chair Jerome Powell — who Trump wants to "terminate" for disobedience.
Even right-wingers are running for the hills now...
"The
problem for Mr. Trump is that Mr. Powell spoke the truth. The main
lesson from Trump vs. Powell is that the central bank can’t make up for
the economic policy errors of politicians," the Journal's editorial
board wrote.
They
stated that Trump's "tariff war isn't going well," causing "market
ructions and evidence of a slowing economy" and now he's demanding that
"the Federal Reserve ride to his rescue by cutting interest rates."
In
their editorial, The Wall Street Journal supported Powell's analysis:
"Tariffs are a tax, which means higher prices for tariffed goods. Mr.
Trump has imposed a minimum tariff on the world of 10%, which is roughly
four times the previous average U.S. tariff rate of 2.4%," they wrote.
They
pointed to "mounting evidence" that "household and business uncertainty
is mounting" which will in turn suppress the "private investment" that
Trump needs to "spur growth."
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