President Trump took to Twitter after Fed chief Jay Powell gave his latest speech concerning monetary policy at the Fed’s economic powwow at Jackson Hole, WY.
Trump took Powell to the woodshed for his focus on Chinese tariffs as being the monkey wrench to the US economy. The President questioned Powell’s allegiance wondering who is the biggest enemy to the US economy Powell of Chinese Chairman Xi?
Trump called into question Powell’s comment: “While monetary policy is a powerful tool that works to support consumer spending, business investment, and public confidence, it cannot provide a settled rulebook for international trade,” Powell said in prepared remarks. “We can, however, try to look through what may be passing events, focus on how trade developments are affecting the outlook, and adjust policy to promote our objectives.”
The President continued his Twitter tirade by citing China’s stealing of US intellectual property and the manufacturing of Fentanyl, which “kills 100,000 Americans a year”
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue.
Trump stated he will have a broader announcement this afternoon on China and the trade talks, but tip his hat by saying in a tweet that “I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,….ll deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop – it didn’t.
More to come