CORRECTION: IN THE LAST SENTENCE OF THE TEXT, I SAID:
“… a veto-proof 60-vote majority in the U.S. Senate.” 60 votes gives a filibuster-proof majority. A “veto-proof” majority is 67 votes. We regret the confusion, and YouTube will no longer let me text-based edits in the on-screen video stream.
Yesterday, the Federal Reserve Chairwoman, Janet Yellen, openly opposed the stated policy of new President Donald Trump by saying the Fed was worried about the economy heating up too much so they would raise interest rates more than planned – 3 times in 2017.
Now remember, this is a Fed that only raised interest rates twice – in the last 10 years in a failed effort to support President no-name Obama.
In other words, if Hillary Clinton would have won the election, then the Fed would have continued with more moderate interest rate hikes – or none at all – as they did for President Obama.
So let’s get this straight – when the Fed raises interest rates it is to worsen the U.S. economy. Why? When interest rates go up, what happens? There is less borrowing.
So what do you suppose happens to the total amount of money in the U.S. economy when there is less borrowing? There is less money. And that’s how the Fed justifies it.