Folks, the audacity is breathtaking! Just when concerns about Trump’s economic stewardship are swirling, the former President took to Michigan yesterday, practically chest-thumping over what he calls a string of ‘major economic victories.’ Marking 100 days since his return, it was a classic Trump rally – full of bombast and thinly veiled attacks.
Photo source:www.washingtonpost.com
He declared his first term (2017-2021) the ‘greatest economy in our country’s history,’ and, naturally, implied things are even better now. Always one for a good feud, Trump predictably ripped into the Federal Reserve, claiming inflation is “coming down” and rates will follow, despite a jab at a perceived underperforming Fed official. He stopped just short of naming names, adopting a pretense of ‘respect.’
But here’s the kicker: Trump then had the gall to assert, and I quote, “You should let him do his thing, but believe me, I know more about interest rates than he does.” Seriously? This from a guy who once suggested the US could simply erase its debt!
Let’s break down why this matters, folks. It isn’t just the ego on display – it’s a fundamental misunderstanding of monetary policy.
First, the Federal Reserve operates independently. Its core function is to maintain price stability – preventing runaway inflation and ensuring full employment. This requires careful calibration of interest rates.
Second, a President’s role is to set fiscal policy – influencing the economy through spending and taxation. Directly influencing or criticizing the Fed undermines that independence.
Third, interest rate decisions aren’t based on gut feelings or campaign rhetoric. They are rooted in complex economic data and modeling. Claiming superior knowledge without demonstrating it reflects a dangerous level of detachment from reality.
The rally itself was vintage Trump: railing against “radical left lunatics,” a brief squabble with a heckler, and even a bizarre line of questioning about nicknames for a former President (who’s been out of office for months!). It’s all showmanship, but the underlying message is clear: Trump believes he’s the only one who can ‘fix’ the economy, regardless of expertise or established protocol.
