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On the Fed, Trump Channels Tricky Dick

by Doug French
Mises.org

“I’m not thrilled,” President Trump told CNBC’s Joe Kernen in an interview that aired on Squawk Box last month. “Because we go up and every time you go up they want to raise rates again. I don’t really — I am not happy about it. But at the same time I’m letting them do what they feel is best.”

Since becoming POTUS, Trump has changed his tune about rates. When Janet Yellen was running the Fed, Trump said she should be “ashamed” for holding down rates. He endeared himself to libertarians at the time by saying the low rates created a “false stock market.”

Then after his election he mentioned the stock market constantly. “It would be really nice if the Fake News Media would report the virtually unprecedented stock market growth since the election,” Trump tweeted in October 2017. A year before Trump had warned America to beware of a “big fat bubble” in stocks.

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