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Trump Slams Yellen: The Fed Has Created A “Stock Bubble” And “A False Economy” To Boost Obama

from Zero Hedge:

“The Fed is keeping the rates artificially low so the economy doesn’t go down so that Obama can say that he did a good job. They’re keeping the rates artificially low so that Obama can go out and play golf in January and say that he did a good job. It’s a very false economy. That’s only strong because it’s free money because the rates are so low. It’s an artificial market. It’s a bubble.”

One month ago, Donald Trump urged his followers to sell stocks, warning of “very scary scenarios” for investors, and accused the Fed of setting the stage for the next market crash when he said that “interest rates are artificially low” during a phone interview with Fox Business. “The only reason the stock market is where it is is because you get free money.”

Earlier today, speaking to a reporter traveling on his plane who asked Trump about a potential rate hike by the Fed in September, Trump took his vendetta to the next level, saying that the Fed is “keeping the rates artificially low so the economy doesn’t go down so that Obama can say that he did a good job. They’re keeping the rates artificially low so that Obama can go out and play golf in January and say that he did a good job. It’s a very false economy. We have a bad economy, everybody understands that but it’s a false economy. The only reason the rates are low is so that he can leave office and he can say, ‘See I told you.'”

He then lashed out at Yellen, whom he accused of having a political mandate when conducting monetary policy: “So far, I think she’s done a political job. You understand that.”
On whether we can have a rate hike in September: “Well, the only thing that’s strong is the artificial stock market. That’s only strong because it’s free money because the rates are so low. It’s an artificial market. It’s a bubble. So the only thing that’s strong is the artificial market that they’re created until January. It’s so artificial because they have free money… It’s all free money. When rates are low like this it’s hard not to have a good stock market.”

Read More @ ZeroHedge.com

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1 comment to Trump Slams Yellen: The Fed Has Created A “Stock Bubble” And “A False Economy” To Boost Obama

  • tomche

    Wow. Truth out of a politicians lips. Too bad the election has already been stolen and he won’t be in. No one who tells the truth will be allowed to pose as a threat to the establishment. Either their puppet bitch gets in or there won’t be an election…IMHO, and I hope I’m wrong.

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