President Trump firmly warned the Federal Reserve against a potential interest rate hike this week; saying it was “incredible” they were even “considering” the move given the global economic climate.
The Commander-in-Chief slammed the Feds on social media Monday morning, writing “It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!”
It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!
— Donald J. Trump (@realDonaldTrump) December 17, 2018
The comments come after weeks of stock market unpredictability; with multiple averages posting major gains and losses within a single 24-hour period.
GREAT AGAIN: Fed RAISES 2018 Economic Outlook, HIKES Interest Rates
The federal government drastically upgraded its forecasted 2018 economic outlook Wednesday, saying the US economy was rising at a “solid” rate; an increase from its previous prediction of “moderate” growth.
According to CNBC, the Reserve released new data this week showing the GDP forecast rose to nearly 3%, up from the previous predictions of 2.7%.
“Economic activity has been rising at a ‘solid’ rate, the Fed’s statement said, marking an upgrade from ‘moderate’ in the previous statement. The central bank raised its benchmark short-term interest rate a quarter of a percentage point on Wednesday, and indicated two more hikes will likely come this year,” writes CNBC.
The strong economic data comes just hours after the US Treasury confirmed it had taken in a record-smashing tax haul in the first fiscal months of 2018; breaking previous highs by $50 billion in personal income tax.
Read the full report at CNBC.
'DEATH AND DESTRUCTION?' GOP Tax Cuts Benefit EVERY SINGLE DISTRICT in the US
The liberal predictions of “death and destruction” continued to crash and burn this week, with new data showing the GOP sponsored tax cuts benefited every single Congressional district in the United States.
The report, published by the Heritage Foundation, found all 425 US districts benefited on average between $394 and $3,332 since the President signed the sweeping tax overhaul into law last December.
“We find that the average household and the average married couple with two kids in every congressional district in every state benefit from the tax cut, both in 2018 and over the next 10 years. Nationally, average households will save $1,400, and married couples with two children will save $2,918 in 2018,” said the report.
The strong data throws even more cold water on the media’s overhyped “blue wave” predicted for this fall, with House Minority Leader Nancy Pelosi vowing to repeal the “GOP tax scam.”
Read the full report here.