Jay Powell told the press interest rate cuts are over this year. Powell said the 3.5 percent unemployment number, and the 1.9 percent inflation figure prove the U.S. economy will avoid a recession in 2020. Mr. Powell also said the Feds will watch and react to the changes Trump serves up on a daily basis. But for now, Mr. Trump’s wish that interest rates fall below zero won’t happen this year or in 2020.
Hedge fund investors don’t agree with Mr. Powell. Several large hedge funds like Bridgewater Capital think the economy will start to crumble when consumers stop buying after the holidays. Thanksgiving sales as well as black Friday, and cyber Monday sales hit all-time highs. But the investment gurus think the spending party will end by April 2020. Those investors also think the stock market will tank during the second quarter of 2020.
The impeachment trial hasn’t hurt the economy. Most Americans know the Senate won’t convict the president. Trump wants to make his trial a TV event. He wants Pelosi and Schiff to testify, and he also wants Joe and Hunter Biden to explain why Joe’s quid pro quo move on Ukraine is okay, and his Zelensky-screwing broke the law. Mr. Biden held back aid to Ukraine when he was VP in order to root out corruption in Ukraine’s government.
Mr. Trump knows his impeachment makes him look like a loser, so he wants Alan Dershowitz to help defend him during the impeachment trial. Alan likes to stir the legal pot.
Mike Pence still won’t release the details of a September 18th call he made to Zelensky. Pence claims releasing that information serves no purpose. But Mike is up to his neck in the plot to screw Zelensky. Pence was one of the Trumpster’s gofers during the Zelensky caper. Rudy Giuliani set the pace, but Pence, Perry, Pompeo, and Barr helped bring the pressure on Zelensky to a boil. Bill Barr claims he didn’t know about the Zelensky screwing. He was too busy figuring out ways to protect the president from the Horowitz report. Barr claims his new investigation will prove the FBI spied on Trump’s campaign in 2016.
China told Denmark to forget a tariff-free trade deal if the Faroe Islands don’t use Huawei’s 5G platform. The U.S. wants Europe to reject Huawei’s 5G push. Trump claims Huawei spies for China, but there’s no proof. CEO Ren Zhengfei has a close relationship with the Chinese government. China denies it put pressure on Denmark but the Danes did say they will stay out of the Faroe Islands 5G decision.
