Desperate to change the narrative from her coughing fit, Hillary Clinton has come out swinging at Trump's comments about how The Fed's low interest rates have created an "artificially strong stock market," exclaiming that presidents and candidates should not comment on Fed actions, showing he should not be president. That's a little awkward given President Obama's meeting with, and comments on, The Fed in April... but hey, when did hypocrisy ever lose an election?
Trump, who has previously accused the Federal Reserve of keeping interest rates low to help President Barack Obama, said on Monday that the U.S. central bank has created a "false economy" and that interest rates should change.
"They're keeping the rates down so that everything else doesn't go down," Trump said in response to a reporter's request to address a potential rate hike by the Federal Reserve in September. "We have a very false economy," he said.
"At some point the rates are going to have to change," Trump, who was campaigning in Ohio on Monday, added. "The only thing that is strong is the artificial stock market," he said.
Nope, no 'false'-ness here at all...
And so, desperate to change the narratuve from her health, Hillary Clinton exclaimed... (via CNBC)
presidents and presidential candidates should not comment on Federal Reserve actions.
She said that GOP nominee Donald Trump's comments show he should not be president.
But her rush to make comments reflect very poorly on President Obama... (here are his comments from April 2016)...
President Barack Obama met with Federal Reserve Chair Janet Yellen on Monday to discuss the U.S. economy amid signs that growth may be slowing as consumers retreat from spending.
Ahead of the afternoon meeting, White House Press Secretary Josh Earnest described Obama as "pleased" with Yellen, who he appointed to lead the Fed in 2014.
Asked if Obama has been happy with Yellen’s work since appointing her in 2014, Earnest called it "an interesting question" and said "the president has been pleased with the way she has fulfilled what is a critically important job."
Obama and Yellen "discussed both the near and long-term growth outlook, the state of the labor market, inequality, and potential risks to the economy, both in the United States and globally," the White House said in a statement after the meeting. They also discussed Obama administration efforts to strengthen the government’s regulation of Wall Street, the statement said.
So, it appears that 1) Trump was right about the artifice of our 'economy' (consider today's reality-awakening crash in ISM Services to 6 year lows and plunge in The Fed's labor market indications), 2) Trump is right about the artifice of the stock market, and 3) Trump's comments on The Fed's actions are simply the other side of the interventionist dream that President Obama remarked upon on April.
It appears it is only ok to comment on fed action if the comment is cognitively dissonant and confirming of the mainstream narrative.