Navarro slams Jay Powell amid feud between Trump and Fed

Navarro slams Jay Powell amid feud between Trump and Fed


AGAIN HE SAYS IT’S HIS BIGGEST THREAT. JOINING ME, ASSISTANT TO PRESIDENT TRUMP FOR TRADE AND MANUFACTURING POLICY, PETER NAVARRO. PETER, IT’S GOOD TO SEE YOU. IT HAPPENED, IT HAPPENED. LET ME ASK YOU FIRST ABOUT JEROME POWELL. HE CAME IN AND EVERYBODY WAS KIND OF EXCITED. THEY SAID THIS IS A GUY WITH REAL WORLD EXPERIENCE. BUT THE GUY WITH REAL WORLD EXPERIENCE NOW THE PRESIDENT SAYS DOESN’T GET HOW THE WORLD WORKS. HE’S PLAYING CHECKERS IN A CHESS WORLD. IN THE OLD DAYS THEY WERE SAYING WRONG WAY CORRIGAN WHO RAN THE WRONG WAY AND SCORED TOUCHDOWN FOR THE OTHER TEAM. WHEN YOU PREMATURELY AND FAST RAISE THE INTEREST RATES. WHAT THAT HAS DONE IS DRIVE UP THE VALUE OF THE U.S. DOLL RAR RELATIVE — DOLLAR RELATIVE TO OTHER CURRENCIES. IT MEANS OUR EXPORTS ARE WAY MORE EXPENSIVE. WE HAVE LESS EXPORTS, SLOWER GROWTH AND PEOPLE THROUGHOUT THIS COUNTRY, PARTICULARLY MANUFACTURING, HAVE FEWER JOBS. WHAT’S INTERESTING TO ME, TRISH. I LISTEN TO POWELL AND THESE BOARDS OF GOVERNORS. THEY DON’T GET IT. IF YOU WENT TO THEIR COUNTERPARTS, EVERY ONE OF THOSE UNDERSTANDS WHEN YOU HAVE INTEREST RATE POLICIES, YOU ARE EFFECTIVELY SETTING EXCHANGE RATES. NO ONE ON THE AMERICAN FED SEEMS TO UNDERSTAND THAT. AND THEY ARE PLAYING CHESS, WE ARE PLAYING CHECKERS. AND IT’S THE DIFFERENCE BETWEEN A VERY STRONG TRUMP ECONOMY WITH GROWTH AROUND 2% VERSUS A GREAT TRUMP ECONOMY AT 3%. POWELL IS COST US A FULL POINTS OF GROWTH AND SHAME ON HIM. IT’S A LACK OF FINANCIAL MARKET LITERACY. YOU HAVE BEEN IN THIS BUSINESS FOR A LONG TIME. HIGHER INTEREST RATES. TRISH: YOU HAVE BEEN TALKING ABOUT CHINA AND THE THREAT OF CHINA FOREVER. GO BACK TO INTEREST RATES.>>HIGHER INTEREST RATES DRIVE UP THE CURRENCY AND THE HIGHER CURRENCY BASICALLY SUPPRESS OUR EXPERTS. YOU CAN SEE IT IN THE Q2 NUMBERS. WE LOST 2/3 OF A POINT DUE TO EXPORTS AND ANOTHER THIRD BECAUSE OF THE EFFECT ON INVESTMENTS. TRISH: YOU HAVE BLAME JEROME POWELL FOR THAT?>>WE HAVE SEVEN INTEREST RATE HIKES. HE’S RESPONSIBLE FOR FOUR OF THEM. WHEN YOU LOOK AT WHEN HE STARTED RAISING THOSE RATES, THE DOLLAR SPIKED BY ALMOST 10%. THAT’S HUGE. EUROPEAN CENTRAL BANK UNDERSTANDS WHEN THEY ARE CUTTING RATES AND DOING QUANTITIES DAY TOUGH EASING, THEY ARE BASICALLY LOWERING THEIR CURRENCY, DOING A COMPETITIVE HE CENTRAL WAS, AND WRONG WAY CORRIGAN AT THE FED IS RUNNING IN THE OPPOSITE DIRECTION. TRISH: THERE IS THE SCHOOL THOUGHT THAT SAYS WHO NEEDS THE FED YOU DON’T NEED A FED LIKE THIS. TRISH: WHY DOESN’T JEROME GET FIRED?>>THE PRESIDENT DOESN’T AUTHORITY TO DO THAT. HERE IS THE ISSUE. LET’S LOOK FORWARD. TRISH: DO YOU WISH YELLEN WAS STILL THERE?>>I WILL NOT PLAY THE LET’S FIRE X OR SHOULD A WOULD A COULD A GAME. WE HAVE 25 BASIS POINTS OUT OF THE FED. WHAT NEEDS TO HAPPEN IN THE SHORT RUN. GETTING 3% GROWTH RATE OR A NUMBER OF THINGS. FIRST AND FOREMOST IN THE NEXT 30 DAYS SHOULD BE PASSING THE U.S.-MEXICO-CAN .AGREEMENT. HUNDREDS OF THOUSANDS OF JOBS. IF WE GET THAT. IF WE GET A FISCAL STIMULUS IN GERMANY WHICH I THINK IS INCREASING THE LIKELIHOOD, SO THEY BUY MORE OUR EXPORTS. IF YOU MOVE FORWARD ON THESE FRONTS LIKE THE PRESIDENT HAS BEEN MOVING FORWARD. I THINK WE’LL HAVE A STRONG OUTLOOK. TRISH: I HAVE BEEN IMPRESSED WITH THE ECONOMY THUS FAR. I THINK THERE IS A LOT TO BE HAPPY ABOUT. NOT YOU PRESIDENT IS TALKING ABOUT ANOTHER TAX CUT. SO, YOU KNOW, WHAT IS THERE TO COMPLAIN ABOUT? I KNOW YOU WOULD LIKE MORE FROM THE FED. BUT WE ARE DOING OKAY.>>DURING THE CAMPAIGN I SAID THE DAY AFTER THE ELECTION. IF PRESIDENT TRUMP HAD THIS GRAND VISION, FOUR POINTS, DEREGULATION. CUTTING TAXES, HAVING TRADE REFORM SOUTHERN CHEAP ENERGY. AND HE PURSUED THAT DOGGEDLY. HE’S AGAINST SUCCESSFUL ON ALL FOUR POINTS OF THE COMPASS. IF YOU THINK ABOUT THE DEMOCRATS’ COUNTER POINTS. THEY WOULD GO IN THE OPPOSITE DIRECTION OF EVERYTHING. IN A LOT OF WAYS, WHAT WE ARE HAVING HERE IS A DEBATE ABOUT WHERE THIS ECONOMY IS GOING TO GO. AND YOU CAN’T PETE PRESIDENT TRUMP’S FORMULA. IT’S A BEAUTIFUL THING. TRISH: I KNOW YOU ARE IN NEGOTIATIONS WITH CHINA AND YOU DON’T WANT TO DISCLOSE MUCH. ANY HINTS?>>NO.

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36 thoughts on “Navarro slams Jay Powell amid feud between Trump and Fed

  1. Sometimes I think Trish does a fantastic job. Sometimes I think no so much. This time I think the person she is interviewing does such a great job that it didn’t matter what she said. She has great hair though.

  2. The Federal Reserve (A.k.a. Great Britian's Cash Cow),   100 year loan contract ENDED in 2013! They have no business in USA nor telling Americans they are graciously gifting Americans w/lower interest rates. How about they really gift America and GET THE F*CK OUT!

  3. Wrong Way Corrigan, was an aviator who became a folk hero when he turned his authorized coast-to-coast (New York to California) flight into a transatlantic one (to Ireland) after U.S. authorities refused to approve his solo flight across the Atlantic; he insisted that he had misread his compass and earned the moniker "Wrong Way

  4. AMERICANS NEED TO LISTEN TO BRIDGETTE GABRIEL HERE ON YOUTUBE SHE EXPOSES BERNIE SANDERS ENDORSER LINDA SARSOUR AND HER AGENDA TO RID AMERICA OF ITS CONSTITUTION AND ENACT SHARIA LAW IN AMERICA !

  5. These clowns can’t be serious. 🤣 All Trump is doing is trying to make sure this massive bubble that’s the economy doesn’t go nuclear on his watch. Kicking the can down the road, but we’re running out of road. The Fed should’ve been ended in 2013 when it got rechartered for another 100 years. If I were retiring or close to retirement, I would want to make sure to have at least 3 years of living expenses in an emergency fund outside the bond and stock market. Because portfolios will take a nose dive. That way I don’t draw down my portfolio during a down market, and it can potentially build up after the market resets. I would consider not just the cash emergency fund but some precious metals too

  6. Navarro on wrong way Corrigan , what the hell was he talking about , the saying has nothing to do with sport . As to Trish the host , based on past performances , this women should be heard less or quietly retire to Denmark a country she is very well schooled in .

  7. The Fed intervenes again in the markets. Oversubscribed $75 billion is the max. $83 billion was submitted. English translation: The markets are becoming illiquid. The Fed needs to do a backdoor QE to keep it going.

    The latest overnight repurchase agreement, or repo, came a day after the policy-setting Federal Open Market Committee cut its benchmark interest rate to a target range of 1.75% to 2%. In two separate market operations on Tuesday and Wednesday, the central bank offered a total of $128 billion through repos – Its third straight daily injection.

    The latest overnight repurchase agreement, or repo, came a day after the policy-setting Federal Open Market Committee cut its benchmark interest rate to a target range of 1.75% to 2%. In two separate market operations on Tuesday and Wednesday, the central bank offered a total of $128 billion through repos – Its third straight daily injection.

    Imagine the federal reserve right now reducing interest rates at a time in which the stock market is near all time highs. We have the fake unemployment rate at 3.7% near record lows. We watch all of the statistics, job numbers, anything else they like to give to us and they are doing very well. Even in the fed statement they said that the job market is looking great. That unemployment fantastic, that our economy in general is doing very well. But yet we are concern about what's happening in Europe and China. Therefore the second time in a short period we are going to cut rates. Something smells funky.

  8. Isn't the "Fed" working in the interests of it's foreign owned Private Banks? Bring down the US economy, introduce a One World currency based on SDRs , implement a UN World Government, convert industry to AI, turn the masses into compost, Age ender 21 Age ender 30 etc etc etc.

  9. Trump will start a new war in the middle east and can't close on any deal. Debt has quadrupled since 07. Get ready for this house of cards to come crashing down.

  10. Trish, not sure if you're trying to play devil"s advocate or what but they are trying to sabotage the economy so Trump loses the election.  The Fed raising and keeping rates high puts us at a competitive disadvantage when other countries are cutting their rates.  Trump's not going to let that happen so he's calling them out so everyone know why if things go south.

  11. Yup the swamp rats in the Fed are deliberately trying to suppress Trump's success. They're working to the benefit of the democRats and prolly China. My country's establishment (UK) is similarly infested with traitors working against its tax payers. They need to be ID'd and hung from the nearest lamppost.

  12. The Federal Reserve is a private banking cartel and they are not even constitutionally allowed to exist. They're in it for the money and they are an enemy from within.

  13. These elected officials..NEED to be tested BEFORE they can Run for ANY OFFICE.. So then they are Voted in for their BRAINS.. To much LACK OF INTELLIGENCE..

  14. The fed is still stealing our money I say they should be audited again just like in 2016-2017 they were missing 95 million dollars never held accountable for it this is not ok get rid of the fed

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