Saturday, May 25, 2024

James O’Keefe Report Puts Fed Chair Powell’s Actions in a Different Light and Raises Questions of Corruption at the Fed

There is an old saying that who needs enemies when you have supposed friends like these. That adage couldn’t be more true for former President Trump’s all too often experience with RINOs and other so-called conservatives. Some of Trump’s fiercest critics and nastiest enemies have been current or former Republicans such as Bob Mueller, Liz Cheney, FBI Director Wray, and Mitt Romney.

James O’Keefe’s recent video posted of a taped interview with an economist who works at the Fed now raises questions about another Republican, Fed chairman Jerome Powell. Aurel Hizmo, who is a principal economist at the Fed working on real estate analysis, was caught saying that Powell looks at himself as a supposed savior of the country from Trump, and that the Fed Chair is committed to left wing causes like what Democrats call climate change.

Powell’s actions going back to 2018 always seemed questionable, and Trump considered firing the incompetent Fed Chairman who completely failed to see the inflation that has destroyed much of a US economy multiple times. Powell bizarrely raised rates aggressively ahead of the 2018 midterm elections when signs of inflation that were were tepid at best that year. The rate of price increases in 2018 was never over three percent in any month, and Powell nevertheless raised rates quickly and aggressively, causing a significant short-term correction in markets that had a negative impact on Trump and the Republican party in the 2018 midterm elections. The former President never liked Powell, and the incompetent Fed Chair’s bizarre actions six years ago contributed to the Democrats taking back the House and the two resulting sham impeachment trials.

Trump was one of the best presidents in US history, but he did make some expected mistakes as a newcomer to politics with his choices for several key appointments. The former President’s decision to appoint FBI Director Wray, a recommendation by Chris Christie, as well as Trump’s appointment of Powell were errors. One of the best parts of a second Trump term is that the former President will know who to trust and he also will know which RINOs to exclude. Ironically, but not surprisingly, since Trump ran against the corrupt establishment, RINOs like Bob Mueller and Director Wray hurt Trump in his first term more than most Democrats or left wing leaders. That shouldn’t happen again if he is reelected.