Acorn of the Day 7/20/18 - The President vs. The Federal Reserve
Our President expressed that he is 'letting' the Federal Reserve do their thing in terms of raising interest rates.
https://www.cnbc.com/2018/07/20/trump-poised-to-take-control-of-the-federal-reserve.html
If you understand that the Federal Reserve is not part of the government nor is accountable to our government, our president or its people you understand how laughable Trump (and this CNBC article) is by stating this.
President Trump has no power over the Federal Reserve as they are a private, central bank - who has full control over our monetary policy (see the Federal Reserve Act of 1913).
He can only appoint members to it, once that is done he has absolutely no jurisdiction over those members actions and decisions.
Personally I believe rising interest rates are a good thing as they have been kept at 0% for nearly a decade.
Too bad they do not teach us how this insidious system really works in school....
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