How many times did the fed raise interest rates in Obama best year? How many years into his presidency was his “best year”?
i don’t think the fed got the memo. They just raised interest rates for the 4th time, and indicated they will do so another 2 times in 2019 to slow the economy down.
The fed knows the economy is slowing down, they have predicted it since the tax cut law came into effect. Initial rise when the money hits and then a slow decrease.
They are raising rates to help when it is needed.
Allan
Too radical for me, Joe.
I don’t want the country to fail (no matter who is in charge)
The dem house will temper trumps agenda
Reducing him to issue eos that are easily undone once trump has left office.
Allan
It was a different economy then.
No huge tax breaks for corporations thus no need to make money more expensive for them.
The huge corporation tax cut is the reason.
Nothing else.
Allan
This thread makes Trump sound like one of the worst presidents ever.
I wonder why a third of the country supports him.
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No they will still blame anyone but themselves and their policies.
Look at the shutdown that Trump fought for a engineered. The one that he would be proud to have… now it is the Senate Democrats fault for some reason.
Obama inherited an economy in free fall. Of course interest rates would be cut. Problem is that Greenspan kept interest rates so low for so long that there was no where lower they could go… hence QE.
Trump and the GOP having inherited a robust economy at near full employment should have done the responsible thing and kept the course of deficit reduction that was happening in the latter part of the Obama years but no… they had to borrow a trillion and half dollars from the future and give it to rich people and corporations. They had to double the deficit iat full employment in under two years.
Now when the inevitable downturn happens… a good portion of the reason is Trump’s idiotic trade policy… then there will be few tools that the government has to soften the blow.
Interest Rates are still pretty low so there isn’t much the Fed can do other than QE… again and taxes are low so cutting them further would increase the deficit which would have to increase anyway because of increased government spending into a recession.
I mean… it isn’t like any of this hasn’t been predicted on this very board or nothing.
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Irrelevant. The conservative argument was that the Obama economy was the worst economy ever. They argue Trump’s economy has been one of the best ever. One of the best economies ever might not beat one of the worst. Sad!
So that tax cut isn’t “slowing” the economy fast enough for the FED, and they have to put even more downward pressure?
So it’s an apples to oranges comparison then correct?
Your right, under Obama, the FED was propping up big business. Now they are cutting them off at the knees. So again trying to compare the Obama rate to the Trump rate is comparing apples to oranges.
The fed needs to make money more expensive to corporations.
It’s as simple as that.
Allan
So an apples to oranges comparison. Thank you for agreeing.
Under Obama the Fed put rates to the lowest levels and did how much QE purchasing to prop up Obama’s economy?
Now Under Trump they are raising rates (4 times in 2017 and predicting further rate hikes in 2018) to slow the economy, and no QE purchasing to help it either.
Apples to Oranges comparisons on the rates.
Only way to look at it is, FED did everything it could to help Obama’s economy, and now it’s doing everything it can to slow Trumps.
No it’s not irrelevent. You know trying to compare apples to apples. How many rate hikes by the FED occured in Obama’s best year? Come on, that should be an easy question.
Consider your average voter. Now consider that half are dumber than that. It makes sense.
(Yes, i know I’m describing the median rather than the mean, but you get my point.)
How many great recessions did Trump have? How many months of losing hundreds of thousands of jobs due to thy recession did Trump have? How many financial crises that dried of global credit did Trump have?
Don’t act all naive as if conservatives haven’t been directly comparing the economy under Trump to the economy under Obama.
In a good economy one wants to raise interest rates.
This is like Econ 101 stuff here.
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If the Fed raised interest rates in let’s say 2012… what do you think the result would have been?
So once again, you want to compare apples to oranges on the growth rate?
Slowing of the economy. Esentially the same effect it had now.
