Trump Tried a Got-U to Fed Chairman BUT with Wrong Numbers
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Trump has been bitching about the Fed Chairman because he won't run the economy the way Trump wants. Trump does not know to run anything according to his past ventures. Only bankruptcies, Lay offs and firings. Empty buildings that before Trump was full of customers and staff. But he can't run any a business. On a business if you skim from the top you kill the bottom line. Trump skim? Nooo not in his make up. So he thinks he can run the feds job which which is what is kept this nation's economy from going to go the way out of Outer space. He was told by the bankers who are the people that control the money, to lay off him. H was told the Supreme Court ruled the chairman could not get fired except for "cause".
So trump started fabricating a case against the Chairman, for "good cause."He is going to get him live on tv and get him on work overruns on the new two buildings which are from the 1920's and are sinking besides everything else. Washington DC was marshland before George Washington or whomever decided they will make A part of Virginia,. cut it in the map and make it the capital. They wanted it to be independents to the states, Why? Politics. They could have. chosen any other place but they want it there. It served their political ideas, what ever they were.
The BOMB
So back to Trump, he invites the Chairman and the media to the construction site. They had to make a special construction white hard hat to fit his special needs hair, with Trump's name (so he would not forget0 and his position.
The Fed Chairman was lucky to just get a white hard hat. It was funny but it got better. At the end of the little walk, he got the fed chairman to the mics and started telling him about the $Millions in overrun on these two buildings.
Jerome Powell The Fed chairman says there are receipts for everything. Trump wanted to make him a thief that he pocket those millions. Incredible. When the fed repeated there are receipts which he made public (unlike the Einstein files Trump is sitting on) Mr Jerome Powell has even posted the receipts on the net) . I guess Trump did not know. Someone must've given him that document and he got excited but it was time for the (BT) Trump Bomb: He pulled out a white piece of 2 pages of papers, one had nothing on it except maybe the weather but two is better than one. Now that is Trump thinking, more is better, even if it's suffering for the people that elected him. Mr. Jerome takes the two pages, had trouble examining the second page, it was stuck to the first and then he reaches into his pocket and pulls his glasses.
It took him 5 seconds to see that paper with numbers. He tells Trump those are not constructions numbers for this site, they belong to a building that was constructed 5 years ago. He hands the white two sheets of paper back to Trump and Trump did not know what to do. He had just a paper with numbers. Meanwhile he has called Powell every name in the book sayin g he had the proof. That was the proof.
He pushes Jerome ever so slightly on his right elbow kind of telling him let's just get F*out of here.
That went on. today.
Below you have a description from Associated Press. I watched this and frankly I was laughing out loud (LOL). Trump knows no numbers and his knowledge of anything is wing-it. He is got experience he is done this all his life. A poor man says is raining and out Trump would say No, someone is watering the grass with my hose.
BY JOSH BOAK
WASHINGTON (AP) — President Donald Trump rattled off a number to shame Federal Reserve Chair Jerome Powell about the renovation costs of the Fed’s headquarters — and America’s central banker dared to correct him. (Live on video.Go to site but is better written).
The exchange occurred Thursday in the plywood-sheathed headquarters of the Fed that are still under construction. Both men wore white hard hats and dark suits. Trump spoke with utter certainty, while Powell skeptically cocked his eyebrows.
Trump claimed the renovation project was over budget at a $3.1 billion price tag, while Powell pushed back and said the president was including an extra building that had been renovated five years ago. The Fed has maintained that renovation costs are $2.5 billion, an increase from $1.9 billion.
“It looks like it’s about $3.1 billion, went up a little bit or a lot,” said Trump.
Powell shook his head in disagreement. “I’m not aware of that, Mr. President,” he responded.
“It just came out,” said Trump, pulling a folded piece of paper from his suit coat’s pocket.
“I haven’t heard that from anybody at the Fed,” Powell said.
“It just came out,” Trump repeated.
Trump focuses on building renovation to ratchet up pressure on Fed Chair Powell
Trump focuses on building renovation to ratchet up pressure on Fed Chair Powell
After some back and forth, Powell put on his glasses, stared at the numbers on the paper from Trump and asked, “This came from us?”
“Yes,” Trump said.
“Are you including the Martin renovation?” Powell said. “You just added in a third building is what that is. That’s a third building.”
“It’s a building that’s being built,” Trump said.
“No, it was built five years ago,” Powell said.
Trump ended his tour afterward by saying he wanted the renovation to be completed and Powell to aggressively cut benchmark interest rates. The Fed chair has refrained from responding to Trump’s taunts on social media, saying the Fed can afford to be patient to monitor the impact of the president’s tariffs on inflation.
The exchange followed months of criticism by Trump of Powell as being “Too Late” on rate cuts and an accompanying pressure campaign to get the central bank head to step down.
White House deputy chief of staff James Blair later said that Powell was “splitting hairs” on the renovation costs, though in this case it would be a $600 million hair about a building that Trump thought was still under construction.
“There’s no way around it,” Blair said. “The cost overrun is massive.”
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