Trump Appears To Be Intentionally Sabotaging The Economy

Donald Trump is still demanding that the Federal Reserve lower interest rates, even though everyone is telling him that this move could destroy the economy. Trump doesn’t seem to understand or care about those warnings, and it almost seems like the man is intentionally trying to sabotage the economy. Whether it is ignorance or arrogance is irrelevant at this point because the man is hellbent on destruction. Ring of Fire’s Farron Cousins explains.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

With the way the news has been recently, um, it, it's kind of been hard to pay attention to, you know, things that really do matter in our day-to-day lives. But one of those things obviously is the US economy, and the economy is not doing well. Honestly, the Epstein scandal re breaking and then getting worse by the day for Trump has probably been one of the best things for him because with everybody hyper-focused on that, nobody is focused on the fact that the economy is getting worse and worse and worse. Inflation is going up, fewer and fewer jobs are being created. We're not meeting those, you know, goals of how many jobs we need to create each month. And of course, Donald Trump is still repeatedly calling for Federal Reserve Chairman Jerome Powell, to be fired, even though he's the guy that would have to do that because he refuses to lower interest rates.

The reason in case anybody hasn't been paying attention that we cannot lower interest rates right now is because we are in a period of inflation. If we lower interest rates, banks will be more able to lend money to more people. There will be more spending, which will cause a period of hyperinflation. And these assets that these individuals buy with these loans at a lower interest rate, we'll end up killing them in the future. Metaphorically, not literally. So we keep interest rates high to avoid a recession. And hyperinflation Trump either doesn't know that or doesn't care about that because he is demanding that interest rates be lowered. By the way, two, 1%, 1%, the economy would be destroyed if that happened. Let me read you this. This is from Roche. Karma from the Atlantic had this to say, many experts, including former Fed chairs, believe that cutting rates simply because the President demands it could have an even more profound consequence.

It would tell the world that the US Central Bank can no longer be trusted to credibly manage the money supply going forward. Investors would get really nervous about holding US Treasury. The economist, Jason Ferman, said to karma and demand a far higher return for buying them to make up for the higher risk, which would perversely drive interest rates higher, not lower. Karma then continued. If the president were serious about lowering the cost of borrowing for families and businesses, he would be wise to leave Powell alone and simply stop enacting widely irresponsible policies. Trump tends to prefer a different approach to people in institutions refusing to take, uh, to do is busy bidding, forcing them into submission. But America's central bank isn't like most other institutions. It is the central node in a highly complex chain of interactions that undergirds the entire global economy. Even one seemingly small error or misstep can result in disaster. So it's not just the disaster that would happen here by lowering interest rates. It's the disaster that would happen across

The globe with foreign investors coming into the US and even US investors, understanding that our central bank is no longer an independent entity. It is instead yet another thing that Trump controls with an iron fist that's gonna make people not invest. And that is going to cost the US economy billions and billions, if not more. We simply cannot survive that. And this is a dire warning that is coming from economists all over the planet. They get it. Trump doesn't, or Trump pretends he doesn't, or he does get it, and he just doesn't care. At this point. With the tariffs, with the attacks on Powell, the calling for the lowering of the interest rates, it seems like Trump is intentionally trying to sabotage the economy. I mean, honestly, there is no other way to kind of really look at this.