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President Donald Trump has launched an unprecedented economic campaign to free the United States from the world's most cancerous economy. However, Federal Reserve Chairman Jerome Powell is helping China survive through policies apparently designed to undermine Trump and help the left.
Powell is responsible for transforming the president's business strategy into an endless trade war. Not only did that name probably get his name elected by the Chinese, but he also provided the Never Trump media with the ammunition needed to project the president's base, especially among farmers and middle-income people. , as deteriorating more per day.
When Powell was first appointed to the position of President of the Federal Reserve in 2017, I publicly warned that Powell was an "insider in the pocket of financial elites." And in December of this year, CNBC Mad Money host Jim Cramer said Jerome Powell is Trump's worst re-election nightmare.
Powell's recent statements and actions support our concerns in more ways than one. He largely outpaced the suggestion made by former Fed Chairman Bill Dudley on August 27 to influence the 2020 elections against Trump using the power of the Fed to strengthen Xi Jinping's power. and democrats.
Powell raised the US benchmark interest rate target four times last year, at a time when China was continually looking for ways to reduce its own. By giving the yuan a much weaker position on the foreign exchange market, the Fed chairman has urged the Chinese to flood the US with cheap goods and US companies all the reasons to accept them. Following Powell's actions, the trade deficit between the United States and China widened by nearly $ 1 million between January and December, despite the White House's heavy duties during this period.
Even after some retreat from aggressive rises, Powell has always found a way to help rig economic data for Democrats. Shortly after lowering rates for the first time in July, Powell said the cut was simply a "mid-cycle adjustment". The announcement plunged the stock market into a stalemate as consumers and investors begin to anticipate higher US rates than expected in the coming months. The media started talking about a recession, while broadcasting unfavorable economic-centric polls to the president.
All these decisions of Powell represent the thought of the democrat first, and not of America, first. Here again, the Democrat's mantra first seems to be exactly what the Fed President wants.
Powell has advanced the causes of the left directly as much as subtly. He even abandoned his supposed deregulation instincts to help key Democratic presidential candidates win election victories.
For example, just weeks after Elizabeth Warren called a national election, the Powell Fed announced its intention to create a system for processing instant bank transfers, known as real-time payments (RTPs). The timing of this announcement by the Fed was quite curious for a host of reasons, as it was an issue that Warren had addressed with legislation less than two weeks ago.
While the private sector is already connecting 50% of the volume of US chequing accounts to a RTP system and connectivity close to 100% is expected in just a few years, the Fed has no reason to get involved. This will be totally contrary to Trump's decree-law requiring that for each new regulation, two be revoked. However, this will give a new topic of discussion to Trump's lead candidate, and this seems to be all that matters to the Powell Fed.
The president's prospects of re-election are no more threatening than the Fed president himself and nothing would benefit the Chinese Communist Party more than a stay for the free human rights and economic rights violations currently under way. course.
The White House must spend at least as much time repelling aggression as controlling China's hostility. Failure to do so could produce devastating results in November.
Andy Surabian is a Republican strategist and advisor to Donald Trump Jr. Previously, he was Special Assistant to President Trump and Deputy Strategist to the White House.
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