Just when President Trump does it again and saves the US economy, crooked Jerome Powell and the Fed shock the markets by lowering rates to zero on a Sunday.  Powell and the Fed are doing all they can to kill the US economy.

The Fed and its Head – Jerome Powell – have mandates to”promote stable prices” and “maximum employment” and to ensure a “healthy economy”.  However, the Fed’s actions over the weekend again have done the opposite.  After the President’s calming press conference on Friday the markets ended the day with the largest one day increase in history.  The DOW was up almost 2,000 points.

But due to the Powell’s actions yesterday, the DOW is scheduled to open down nearly 1,000 points.

The Federal Reserve states on their website that two of its functions are to conduct monetary policy and promote financial system stability.

But the Fed under Powell is doing the opposite. 

Just look at the Fed’s rate increases since President Trump won the 2016 election. The Fed lowered interest rates to 0% for the Obama Administration and kept these rates at 0% for the first 7 years of Obama’s time in office. Finally, the Fed increased the interest rates 0.25% in late 2015 for the only increase during Obama’s Presidency up to the 2016 election.

After President Trump won the November 2016 election, the Fed began a steady program of increasing interest rates. This program continued through April 2019.  In total, the Fed increased rates 8 times after Trump won the Presidency. The Fed finally began lowering rates in 2019.

Top US economist Stephen Moore discussed the Fed’s actions in December 2018 –

Unfortunately, if you cut engine power too far on a jetliner, it will stall and drop out of the sky.

On Wednesday, December 19, 2018, despite the numerous market-based alarms that were sounding in the cockpit, Chairman Powell and his co-pilots on the FOMC voted to raise the Fed Funds rate to 2.50%. This sucks more dollars out of the economy at a time when the world demanding more dollars – thanks to Trump’s Tax cutting and deregulation policies.

Chairman Powell has been entirely tone deaf to the financial markets he seeks to protect. The Dow Jones Industrial average, which had risen by 382 points on hopes that the Fed would listen to President Trump and stop cutting power, plunged by 895 points after the 2:00 PM announcement, and closed the day down 352 points (1.49%). Poof, trillions of dollars of wealth vanished.

Since its peak on October 3, which, not coincidentally, was right after Chairman Powell gave a speech suggesting that the Fed might be through tightening money, the Dow has fallen by more than 3,500 points [now 4,500]. Market fears about his bad judgment have cut the value of all U.S. stocks by about $4.5 trillion, which is enough to buy 16,000 Boeing 787 Dreamliners.

The Fed economists use twisted logic that the economy is “strong enough” to absorb the rate hikes – which is simply an admission that their policy will slow growth.

The markets were up nearly 50% after a year and a half into President Trump’s Presidency.  Then in early October 2018, the Fed Chief announced more interest rate hikes. After that the markets collapsed. The markets were down about 20% by the end of 2018 and the Fed nearly put the US into a recession.

President Trump challenged the Fed in May 2019. While China is doing all it can to protect its economy, the Fed is doing the opposite in the US –

China is adding great stimulus to its economy while at the same time keeping interest rates low. Our Federal Reserve has incessantly lifted interest rates, even though inflation is very low, and instituted a very big dose of quantitative tightening. We have the potential to go…

— Donald J. Trump (@realDonaldTrump) April 30, 2019

The Fed’s raising of interest rates are hurting average Americans’ 401k’s while increasing the US debt –

….up like a rocket if we did some lowering of rates, like one point, and some quantitative easing. Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!

— Donald J. Trump (@realDonaldTrump) April 30, 2019

We noted this too. The Fed is adding billions to the annual US debt with their corrupt and crooked policy of raising rates on the Trump Administration.

The Fed’s 2.25% interest rates on the federal debt increased the annual debt by $500 billion annually or more than $1 trillion in US debt.

The Fed finally lowered rates in 2019 which led to more stock market all-time highs.

But yesterday, the Fed lowered rates to 0% on a Sunday which signaled to the markets that the economy is in terrible shape.  A couple weeks ago the US enjoyed 3.5% unemployment, more Americans working than every before, a GDP that is the largest in history by any country ever and wages that were increasing for the average American.

Jerome Powell and the Fed prove that the Fed is not working for America but is rather on a destroy America agenda.

The post The Fed’s Jerome Powell Screws America Again! After President Trump’s Positive Actions on Friday – The Fed Shocks Markets by Lowering Rates to Zero On a Sunday appeared first on The Gateway Pundit.