The president needs some good economic news. His border wall and immigration decisions are taking a heavy toll on Gross Domestic Product growth. According to government economists, the government shutdown hurt GDP growth. And his decision to slow down the commercial traffic coming from Mexico is another GDP growth deterrent.
China is in no hurry to sign a trade with Trump. China knows Mr. Trump has to make a deal soon. According to a former ambassador to China, even when China signs a trade deal the result may take years to materialize due to red tape in China’s communist government. Trump’s tariffs hurt economic growth, and the recent news the European Union will put tariffs on $12 billion worth of U.S. exports will also slow down economic growth.
Instead of admitting his stand on immigration and his tariffs and trade wars have a dramatic effect on the economy, Trump blames the Federal Reserve Board for his economic incompetence. Mr. Trump wants the Feds to pour more money into the economy now that he knows Gross Domestic Product growth has the mud of his ignorant decisions all over it. Trump wants Fed Chairman Powell to inject more money into the economy to reduce his political risks. But Mr. Powell told 60 Minutes the Federal Reserve doesn’t answer to Trump.
Most economists say Trump’s request for help from the Central Bank is not an option. Trump still blames the Feds for raising interest rates in 2018. And he’s not happy with last year’s quantitative easing. The Feds withdrew about $50 billion in bonds it held from the 2008 meltdown to help growth. Mr. Trump thinks his monetary and economic decisions make more sense than Powell’s decisions. Trump said he might fire Powell, but Powell is out of Trump’s reach, according to legal experts.
Speaker of the House Nancy Pelosi told 60 Minutes Trump is hard to work with, and his decisions create more issues than they solve. Mr. Trump assaults the constitution every chance he gets, according to Pelosi. She thinks Trump is a deadbeat, but she still wants to work with him on infrastructure before the 2020 election.
Nancy called Mr. Trump and asked him to focus on making an infrastructure deal. Trump said he would like to work with her during that conversation. But Pelosi knows Trump doesn’t want to work with Congress. Congress is his enemy, and Trump likes to destroy his enemies.