President Donald Trump has hammered globalism relentlessly, but has been much more quiet regarding the international banking system. That may be changing, as the 45th President focused his ire on the Federal Reserve yesterday.
“I want to bring the country together. It’s happening,” Trump said during an interview with the Washington Examiner. Trump believes the Fed is making it harder to make America great again by being “overly aggressive” in raising interest rates.
Trump believes that the Fed gave Obama access to cheap money so he could promote socialism, ISIS, transgender bathrooms, and other atrocities, but they are giving Big 45 a raw deal for actually working on behalf of the American people.
“Other than [the Fed], we are doing so well, it’s incredible,” Trump said. “The numbers, the corporate earnings, the liquidity, it’s incredible. Our country is so strong. We’ve never been in a position as good as we are now, economically.”
While Trump may be eager to battle the Fed, his sheepish colleagues in the US Senate are not as apt to take on the monolithic central bank that likes to operate in secret whenever possible.
“I disagree with the president on this,” said Sen. Pat Toomey (R-PA), a Senate Banking Committee member. “We’ve waited way too long for the Fed to begin normalizing interest rates. I’m glad that they finally have begun that process.”
“It’d be much better if the president wouldn’t make those comments. Even those comments sometimes can affect markets, that the president makes,” frequent Trump critic and soon-to-be-retired Sen. Bob Corker (R-TN) said.
Trump’s willingness to take on the Federal Reserve hearkens back to the good ol’ days of the tea party and liberty movements when Texas Congressman Ron Paul made the central bank into a national issue during his presidential runs of 2008 and 2012.
While libertarians may disagree with Trump’s specific concerns with the Fed, it is clear that Trump is getting ready to scapegoat the Federal Reserve in case any economic turmoil hits. That will give liberty-minded Republicans the ammo they need to finally audit and then eventually end the Federal Reserve.