MSNBC’s Ali Velshi on Trump’s Fed Fight: First Time We Have Seen This Very Visible Demeaning of the Federal Reserve

RUSH EXCERPT:

VELSHI: “President Trump is not letting up on his attack on the federal reserve or the head of the federal reserve over its latest interest rate hike. He tweeted the only problem our economy has is the fed. They don’t have a feel for the market. They don’t understand necessary trade wars or strong dollars or even Democrat shutdowns over borders. The fed is like a powerful golfer who can’t score because he has no touch. He can’t putt. The tweet came after reports of the president asked aides whether he can fire Jerome Powell. He said Powell would turn me into a Hoover. It’s a reference to Herbert Hoover. The president has criticized Powell for rate hikes that have led to turmoil on Wall Street. It was the subject of phone calls yesterday between treasury secretary and the heads of the nation’s six largest banks. It focussed on the financial health of the banks. Wall Street found none of this comforting as the sell off continued during a shortened trading session. The Dow dropped 653 points marking the worst Christmas eve trading day ever. Stan, good to see you. Thank you for being with us.”
VEUGER: “Thank you.”
VELSHI: “There aren’t a lot of presidents in history who have enjoyed federal reserve increasing interest rates. This is historic. It’s the first time we have seen this demeaning of the federal reserve.”