Day 937: As Markets Plunge Amid Recession Fears, Trump Plays The Blame Game | The 11th Hour | MSNBC

Day 937: As Markets Plunge Amid Recession Fears, Trump Plays The Blame Game | The 11th Hour | MSNBC


WAY ON THIS WEDNESDAY NIGHT.>>>WELL, GOOD EVENING ONCE>>>WELL, GOOD EVENING ONCE AGAIN FROM OUR NBC NEWS AGAIN FROM OUR NBC NEWS HEADQUARTERS HERE IN NEW YORK. HEADQUARTERS HERE IN NEW YORK. DAY 937 OF THE TRUMP DAY 937 OF THE TRUMP ADMINISTRATION AND A GIANT DARK ADMINISTRATION AND A GIANT DARK CLOUD HAS TAKEN ITS NEW PLACE ON CLOUD HAS TAKEN ITS NEW PLACE ON THE HORIZON AS POTENTIAL BIG THE HORIZON AS POTENTIAL BIG TROUBLE FOR THE TRUMP ECONOMY. TROUBLE FOR THE TRUMP ECONOMY. THE STOCK MARKET POSTED ITS THE STOCK MARKET POSTED ITS BIGGEST DECLINE OF THE YEAR AS A BIGGEST DECLINE OF THE YEAR AS A KEY PREDICTOR OF RECESSION IS KEY PREDICTOR OF RECESSION IS NOW FLASHING FOR THE FIRST TIME NOW FLASHING FOR THE FIRST TIME SINCE 2007. SINCE 2007.>>WARNING SIGNS FLASHING RED>>WARNING SIGNS FLASHING RED THAT THE ECONOMY COULD BE HEADED THAT THE ECONOMY COULD BE HEADED FOR TURMOIL. FOR TURMOIL. THE DOW CLOSING OVER 800 POINTS THE DOW CLOSING OVER 800 POINTS DOWN TODAY. DOWN TODAY.>>WELL, READ IT AND WEEP.>>WELL, READ IT AND WEEP. IF YOU’RE LONG THIS MARKET, YOU IF YOU’RE LONG THIS MARKET, YOU WERE WHIPPED AND CHILLED BY THIS WERE WHIPPED AND CHILLED BY THIS MARKET. MARKET.>>FEARS OF ANOTHER RECESSION>>FEARS OF ANOTHER RECESSION CAUSING PANIC ON WALL STREET CAUSING PANIC ON WALL STREET TODAY. TODAY. THE DOW TAKING A DRAMATIC THE DOW TAKING A DRAMATIC TUMBLE. TUMBLE.>>THE DOW’S 800-POINT DROP IS>>THE DOW’S 800-POINT DROP IS MORE THAN 3%. MORE THAN 3%. AMONG SOME OF THE KEY FACTORS AMONG SOME OF THE KEY FACTORS THE EFFECTS OF THE TRADE WAR THE EFFECTS OF THE TRADE WAR ALONG WITH SIGNS OF SLOWDOWNS IN ALONG WITH SIGNS OF SLOWDOWNS IN CHINA AND GERMANY. CHINA AND GERMANY. AS THE MARKET WAS DROPPING TRUMP AS THE MARKET WAS DROPPING TRUMP WAS ON SOCIAL MEDIA SLAMMING THE WAS ON SOCIAL MEDIA SLAMMING THE GUY HE APPOINTED AS FEDERAL GUY HE APPOINTED AS FEDERAL RESERVE CHAIRMAN. RESERVE CHAIRMAN. JEROME POWELL, KNOWN TO HIS JEROME POWELL, KNOWN TO HIS FRIENDS AS JAY. FRIENDS AS JAY. “CHINA IS NOT OUR PROBLEM, “CHINA IS NOT OUR PROBLEM, THOUGH HONG KONG IS NOT HELPING. THOUGH HONG KONG IS NOT HELPING. OUR PROBLEM IS WITH THE FED. OUR PROBLEM IS WITH THE FED. RAISE TOO MUCH AND TOO FAST. RAISE TOO MUCH AND TOO FAST. NOW TOO SLOW TO CUT. NOW TOO SLOW TO CUT. SAY THANK YOU TO CLUELESS JAY SAY THANK YOU TO CLUELESS JAY POWELL AND THE FEDERAL RESERVE.” POWELL AND THE FEDERAL RESERVE.” EARLIER TODAY TRUMP’S DIRECTOR EARLIER TODAY TRUMP’S DIRECTOR OF TRADE POLICY OFFERED AIR OF TRADE POLICY OFFERED AIR SUPPORT FOR HIS BOSS’S POSITION. SUPPORT FOR HIS BOSS’S POSITION.>>THIS IS BASICALLY THE FEDERAL>>THIS IS BASICALLY THE FEDERAL RESERVE’S PROBLEM VOLATILITY. RESERVE’S PROBLEM VOLATILITY. THEY ARE CAUSING THIS BECAUSE THEY ARE CAUSING THIS BECAUSE WHEN JAY POWELL GOT IN AS WHEN JAY POWELL GOT IN AS CHAIRMAN HE PROCEEDED TO RAISE CHAIRMAN HE PROCEEDED TO RAISE INTEREST RATES BY 100 BASIS INTEREST RATES BY 100 BASIS POINTS, TOO FAR TOO FAST. POINTS, TOO FAR TOO FAST. AND EVEN THOUGH THE TRUMP AND EVEN THOUGH THE TRUMP ECONOMY IS ROCK SOLID IT SLOWED ECONOMY IS ROCK SOLID IT SLOWED US DOWN A BIT BECAUSE OF THOSE US DOWN A BIT BECAUSE OF THOSE HIGHER INTEREST RATES. HIGHER INTEREST RATES.>>AFTER FALSELY ARGUING THAT>>AFTER FALSELY ARGUING THAT TARIFFS WOULD BE PAID BY CHINA TARIFFS WOULD BE PAID BY CHINA AND NOT U.S. CONSUMERS, JUST AND NOT U.S. CONSUMERS, JUST YESTERDAY CITING THE HOLIDAY YESTERDAY CITING THE HOLIDAY SHOPPING SEASON TRUMP WALKED SHOPPING SEASON TRUMP WALKED BACK THOSE TARIFFS. BACK THOSE TARIFFS. HE’S BEEN AN ADVOCATE OF TRADE HE’S BEEN AN ADVOCATE OF TRADE WARS, CALLING THEM IN THE PAST WARS, CALLING THEM IN THE PAST “GOOD AND EASY TO WIN.” “GOOD AND EASY TO WIN.” THROUGHOUT HIS CAMPAIGN AND IN THROUGHOUT HIS CAMPAIGN AND IN THE WHITE HOUSE HE NEVER FAILED THE WHITE HOUSE HE NEVER FAILED TO REMIND VOTERS THAT THE TO REMIND VOTERS THAT THE BENCHMARK OF HIS SUCCESS AS BENCHMARK OF HIS SUCCESS AS PRESIDENT WOULD BE LINKED TO HIS PRESIDENT WOULD BE LINKED TO HIS ECONOMY. ECONOMY.>>WE WILL WIN AT TRADE.>>WE WILL WIN AT TRADE.>>HE’LL WIN SO MUCH YOU’RE>>HE’LL WIN SO MUCH YOU’RE GOING TO GET SICK AND TIRED OF GOING TO GET SICK AND TIRED OF WINNING. WINNING.>>OUR ECONOMY IS GOING TO SOAR.>>OUR ECONOMY IS GOING TO SOAR.>>WE WILL ACHIEVE LIKE WE>>WE WILL ACHIEVE LIKE WE HAVEN’T ACHIEVED BEFORE. HAVEN’T ACHIEVED BEFORE.>>OUR COUNTRY’S DOING REALLY,>>OUR COUNTRY’S DOING REALLY, REALLY WELL. REALLY WELL. YOUR 401(k)s ARE UP 50%, 60%. YOUR 401(k)s ARE UP 50%, 60%. SOMEBODY TOLD ME 78%. SOMEBODY TOLD ME 78%.>>WE’VE HAD THE HIGHEST STOCK>>WE’VE HAD THE HIGHEST STOCK MARKET IN THE HISTORY OF OUR MARKET IN THE HISTORY OF OUR COUNTRY. COUNTRY.>>OUR COUNTRY NOW HAS THE>>OUR COUNTRY NOW HAS THE HOTTEST ECONOMY — HOTTEST ECONOMY –>>WE’RE NEVER GOING TO STOP>>WE’RE NEVER GOING TO STOP WINNING. WINNING.>>TODAY’S MARKET SELLDOWN COMES>>TODAY’S MARKET SELLDOWN COMES AMID GROWING GLOBAL CHALLENGES AMID GROWING GLOBAL CHALLENGES FOR TRUMP. FOR TRUMP. NORTH KOREA’S MISSILE TEST, NORTH KOREA’S MISSILE TEST, TENSIONS RE-EMERGING BETWEEN TENSIONS RE-EMERGING BETWEEN JAPAN AND SOUTH KOREA, AND AN JAPAN AND SOUTH KOREA, AND AN ESCALATING RAZOR’S EDGE CONFLICT ESCALATING RAZOR’S EDGE CONFLICT BETWEEN TWO NUCLEAR POWERS, BETWEEN TWO NUCLEAR POWERS, INDIA AND PAKISTAN, OVER INDIA AND PAKISTAN, OVER KASHMIR. KASHMIR. THERE IS ALSO THE CONTINUED THERE IS ALSO THE CONTINUED UNREST IN HONG KONG. UNREST IN HONG KONG. LET’S NOT FORGET WHERE LET’S NOT FORGET WHERE PROTESTERS CLASHED WITH PROTESTERS CLASHED WITH AUTHORITIES AGAIN TODAY. AUTHORITIES AGAIN TODAY. POLITICO IS REPORTING TRUMP’S POLITICO IS REPORTING TRUMP’S TOP AIDES HAD WANTED HIM TO BACK TOP AIDES HAD WANTED HIM TO BACK THE PRO-DEMOCRACY PROTESTERS IN THE PRO-DEMOCRACY PROTESTERS IN HONG KONG BUT THE PRESIDENT HONG KONG BUT THE PRESIDENT RESISTED OUT OF CONCERN THAT RESISTED OUT OF CONCERN THAT SUCH A MOVE WOULD MEAN NO TRADE SUCH A MOVE WOULD MEAN NO TRADE DEAL WITH CHINA. DEAL WITH CHINA. TRUMP MAY HAVE CHANGED HIS MIND TRUMP MAY HAVE CHANGED HIS MIND ON THAT LAST ONE, THOUGH. ON THAT LAST ONE, THOUGH. TONIGHT HE SENT THIS OUT. TONIGHT HE SENT THIS OUT. “GOOD THINGS WERE STATED ON THE “GOOD THINGS WERE STATED ON THE CALL WITH CHINA THE OTHER DAY. CALL WITH CHINA THE OTHER DAY. OF COURSE CHINA WANTS TO MAKE A OF COURSE CHINA WANTS TO MAKE A DEAL. DEAL. LET THEM WORK HUMANELY WITH HONG LET THEM WORK HUMANELY WITH HONG KONG FIRST.” KONG FIRST.” AND THAT RIGHT THERE FOR THE AND THAT RIGHT THERE FOR THE RECORD IS A CHANGE. RECORD IS A CHANGE. TRUMP WILL HOLD HIS FIRST RALLY, TRUMP WILL HOLD HIS FIRST RALLY, NOT A THEMED SPEECH BUT A NOT A THEMED SPEECH BUT A FULL-ON OHIO AND TEXAS. FULL-ON OHIO AND TEXAS. HE’LL BE IN MANCHESTER, NEW HE’LL BE IN MANCHESTER, NEW HAMPSHIRE TOMORROW. HAMPSHIRE TOMORROW. THAT COMES AS A NEW POLL FROM THAT COMES AS A NEW POLL FROM FOX NEWS SHOWS 56% OF VOTERS

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100 thoughts on “Day 937: As Markets Plunge Amid Recession Fears, Trump Plays The Blame Game | The 11th Hour | MSNBC”

  • A %3 correction a market plunge? Over 800 points higher than when obo was in office with 8 years of nothing. Last 21/2 years my investments have doubled!!. Obo= 0

  • Michael Talley says:

    He's so dumb he thinks that if the Fed would just continue to lower interest rates that everything would be rosy. He has absolutely no idea what causes Inflation. A recession and inflation at the same time? None of his cult members would have a job.

  • So when the economy is great take all the credit. When things go bad, blame someone else…. I see….

    No personal responsibility and a case of narcissism

  • The six-time bankruptcy businessman president finally proves to the business world why he has 6 bankruptcies. Unfortunately Donald Trump has always been a pathological lying con man businessman.

  • Fake news! The market dropped because the private Fed Reserve international banking cabal raised interest and reverse quantitative easing taking $50 billion liquidity out off the street each month.

  • One day into office and Mr trump was claiming the economy was all his doing, yet when it goes horribly wrong under a lack of qualified leadership, trump blames the guy he put in. No… it's not HIS fault.

    Yeah right. If you believe that pile of crap, I have a "holly" book to sell you. It was written by god himself!

  • The King Of Waffles says:

    Our current president is so ineptly idiotic that I’m tired of seeing him! Excuse me Trump but I don’t think we’re winning. Next year we’re really going to need to vote a serious change from this president.

  • Donald Trump is one of the most clueless motherfukers that literally I have ever heard speak. You know you go through your life and you meet people like this and you just utterly dumbfounded that the exist. Well I've met many people like this in my life but I don't think any of them were is blatantly ignorant is this disgusting little narcissist in office. He is an embarrassment to this country he's a blight on Washington Andy disgrace to the presidency

  • Trumps tariffs. This is what happens when you got an dummy in the white house. How is you a good business man when you got 6 bankruptcys. Trump is a con man. I'm going back put tariffs on China on September 1st. Now that the stock market keeps crashing, now I'm going to hold up putting tariffs on China. Trump is dumb. As long as he is the president of the United States, America will fall.

  • I know that alot of y'all hate my president Barack Obama, but let's be honest Trump supporters President Barack Obama is way smarter than Trump. If president Barack Obama was in office do y'all really think that we would be going through this. Just be honest y'all can still vote for Trump if y'all wants to but hes not smarter than Obama. President Barack Obama's dog is smarter than Trump and his fish.

  • Tariffs makes money immediately,sending billions into America’s coffers,but who are paying for it?Hostilities and war mongering means the Americans Government buys more weapons plus selling them,so who are those shareholders of weapons making industries?Those Hawks ?Military spending is almost unaccountable,even our Jihadists terrorists carry American made weapons,dodgy? Suspicious?

  • Radical jushis terrorist organisation break un rezulation more than 50. Now this terrorist organisation attack us government suxesfully. 🇮🇱🏴‍☠️🇮🇱🏴‍☠️🇮🇱🏴‍☠️🇮🇱🏴‍☠️🇮🇱🏴‍☠️🇮🇱🏴‍☠️🇮🇱🇮🇱🏴‍☠️🇮🇱🇮🇱🇮🇱🏴‍☠️🇮🇱🇮🇱🇮🇱🏴‍☠️

  • Trump rode the coat tails of Obama's COME BACK ECONOMY BOOM!! Trumps tariffs are coming bsck to bite him in the ASSets 😂

  • "401Ks up 50%, 60%…78%". Which is it? Whoever is advising him, at least two of those numbers have to be incorrect for the other to be correct. And if he has lied about two, why would we believe him on the third?

  • "We're never going to stop winning"…….. except we just did, thanks to loser Trump. He said it was a no-brainer when he meant HE is the no-brainer!

  • I've said it before and i'll say it again… Trump loves to take credit for things when things go well even if he had little or nothing to do with those things, but as soon as something goes bad or is going bad he'll blame everyone and anyone.
    Projection, lies and bombastic self-entitled, narcissistic toxic (Racist) rhetoric is what Trump is all about.

  • HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

  • So you fake news aholes want a recession to un seat the greatest president ever
    And open borders and take our guns well didnt happen and never will

  • It's so disheartening to see the left rooting for a recession just so they can be right about something. The economy is in terrible shape and could collapse at any moment? Huh? Stock market is up, unemployment is down, wages are up and they can't build houses fast enough to keep up with demand. But I suppose all that is racist or I'm racist or something like that.

  • It's like the movie con man Trump there's just always so much BS you can take in 3 years! Every business before he took over his father's Empire he ruined it ran it in the ground no one loses a billion dollars and calls himself successful he treats the presidency like a TV show and as long as you're rooting for him he'll show you just how incompetent it comes to running the country it's sad but this is what you wanted you want me to get your money's worth

  • Hermina Pacocha says:

    Never his fault, he is a victim, poor baby not man enough to take responsibility, deport immigrant Melania, she and her son do not belong, send them back where they came from,

  • Trump inherited a strong and vibrant economy from Obama and the dems despite republicans and Moscow mitch blocking everything. Remember his only goal was to make Obama a 1 term president instead of putting America first he put his party first despite an economy on the verge of a worldwide recession , the great recession . Remember it ?a republican policy caused recession.but trump is responsible for any change .the stock market is not the economy. Hes responsible for the market not a strong economy.

  • Edmund Singleton says:

    You’re an average American eagerly seeking news and punditry in the store that is The 11th Hour with Brian Williams, confronted by plain unadorned looking store brand on its top shelves, decided not to consume, but wait, what’s that on the bottom shelve, in the guise of a sixty-five-year-old Michael Moore and a sixty-three-year-old Michael Beschloss, collectively known as ‘the two Michaels’ whether they appear together or not, all fluorescently bathed in youthful hair dye, now you have decided to partake. Oh, what a difference a few chemicals of hair dye can make in one’s choice of product, even if rooted in fabrication with one well hidden under a baseball cap.

  • Trianna LaKings says:

    Presidunce trump takes credit for President Obama's economy.but went it starts to bust cause of his trade war he started,its everyone else fault.what a clown!

  • Ashim Chakravorty says:

    oh ,goody ,everything trumpy touches drowns …….born with this die with that ……..so smart , so smart lier …..lier …..lies….. = lies = success……k.c.

  • nosuchthingasshould says:

    The only part of that clip that matters is that final statistic. His approval is steadily hovering over 40 percent, in a 60 percent white country. As long as he keeps being racist and jingoistic, and democrats keep getting offended that their preferred candidate doesn't win the primary, trump has nothing to fear.

  • Trump is correct with respect to the Fed raising rates too much/too fast and then not reacting quickly enough to drop them. The Fed model causes rate increases during times of expanded GDP growth in order to pro-actively curb inflation. The Fed failed to recognize that their model is built on traditional GDP growth, not the type of growth we are seeing in this cycle. So, rather than curb inflation, which was never in danger of increasing, it caused growth to sputter. They then reacted to this by cutting the rate. Hence, Trump's criticism. It's not political, it's economics.

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