U.S. President Donald Trump looks up as reporters ask questions about the future of U.S. Secretary of State Rex Tillerson in the Oval Office at the White House in Washington, U.S., November 30, 2017. REUTERS/Kevin Lamarque
The White House is panicking because the economy is weakening faster than expected and Trump has no plan to head off a recession.
The Washington Post reported:
Several White House officials have become concerned that the economy is weakening faster than expected, but they are not working on proactive plans to change its course. The Treasury Department has had an exodus of senior advisers in recent months, and the White House just announced a replacement for its chairman of the Council of Economic Advisers.
Instead of rolling out new policies, Trump and other top aides have escalated their attacks on the Federal Reserve, trying to pin much of the United States’ problems on what Trump alleges is elevated interest rates that are strangling growth.
In a series of Twitter posts on Wednesday, Trump appeared to try to calm investors while also unloading vicious language aimed at Powell, whom he nominated in late 2017.
Trump has no plan to head off a potential recession. In fact, Trump’s only plan appears to be to tweet denials that the economy is weakening. Donald Trump can’t prevent a recession with tweets. The Trump administration doesn’t have plans and policies. They veer from position to the next based on what the president sees on cable news and tweets. Trump can’t prevent a recession with tweets.
The president is already planning on scapegoating the Fed for any economic downturn, but an interest rate cut wouldn’t solve the problems that Trump’s trade war has created within the global economy.
Trump chaos has finally caught up to him, as he has managed to destroy the economy and the American people built over eight years in less than a single term as president.
The recession is coming and Donald Trump is hanging out at his golf club tweeting.
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