One entity that controls the American economy is the Federal Reserve (which is not controlled by the government). It’s board members are nominated by the President and approved by Congress, but it is a private entity. Unfortunately it is part of the globalist cabal that seeks to undermine American sovereignty. President Trump has attempted to put two skilled businessmen on the Federal Reserve recently. The globalists in Congress have caused both men to withdraw their nominations. In the coming year, you can expect the Federal Reserve to subtly move to make the re-election of President Trump more difficult. I expect rate hikes leading up to the election to counter a healthy economy that is rapidly expanding. President Trump is not a globalist, and the globalists really want him gone. Globalists in Congress include both Democrats and Republicans (that is why it is so difficult to secure our borders).
The Gateway Pundit is reporting today that Stephen Moore has withdrawn his nomination to the Federal Reserve Board.
The article reports:
Stephen Moore has a distinguished career in leadership roles at Heritage and The Wall Street Journal. Stephen Moore is a founder at the Club for Growth. Moore was an early Trump campaign supporter and wrote the book Trumponomics.
Moore is a presidential adviser and friend and is an architect of the greatest economic boom since Ronald Reagan.
In September Stephen Moore spoke at the Gateway Eagle Council in St. Louis, Missouri.
And in December Steve criticized Federal Reserve Chairman Jerome Powell for his irresponsible and dangerous rate hikes and threats of rate hikes. Powell was able to unilaterally stall the US economic boom in its tracks and cost the US economy hundreds of billions of dollars.
Moore wrote that it was time for Powell to resign. Moore was right.
The article includes excerpts from a World Net Daily article explaining why Jerome Powell should resign:
The Fed had already reduced the monetary thrust that it provides to the economy eight times since Dec. 15, 2015, by raising its federal funds interest rate from 0.25 percent to 2.25 percent. Each time, the Fed claimed that it needed to guard our economic airliner from inflationary “overheating” – as if its job is to prevent too many people from working and to make sure that paychecks aren’t rising too quickly.
Unfortunately, if you cut engine power too far on a jetliner, it will stall and drop out of the sky.
On Wednesday, Dec. 19, despite the numerous market-based alarms that were sounding in the cockpit, Federal Reserve Chairman Jerome Powell and his co-pilots on the Federal Open Market Committee – a committee within the Federal Reserve System charged under the United States law with overseeing the nation’s open market operations and which makes key decisions about interest rates and the growth of the U.S. money supply – voted to raise the funds rate to 2.50 percent. This sucks more dollars out of the economy at a time when the world is demanding more dollars – thanks to Trump’s tax-cutting and deregulation policies.
Powell has been entirely tone-deaf to the financial markets he seeks to protect. The Dow Jones Industrial average, which had risen by 382 points on hopes that the Fed would listen to Trump and stop cutting power, plunged by 895 points after the 2 p.m. announcement, and closed the day down 352 points (1.49 percent). Poof. Trillions of dollars of wealth vanished.
The article at The Gateway Pundit concludes:
The Democrats and Deep State apparatus does not want Stephen Moore on the board of the Federal Reserve. Stephen is the perfect pick for the job. Now the deep state is attacking Steve and his family.
Republican Senators Joni Ernst (R-IA), Shelley Moore Capito (R-WV), Lisa Murkowsky (R-AL) and anti-Trumper Mitt Romney (R-UT) expressed reservations this week. The Republican senators effectively killed Steve Moore’s nomination.
The Republicans voiced concerns over Moore’s nomination for comments he made nearly 20 years ago about women earning as much as men in fields like women’s sports.
On Thursday Steve Moore withdrew his nomination for the Federal Reserve Board.
It was a victory for anti-Trump globalists everywhere.
Stephen Moore’s withdrawal of his nomination is America’s loss.