{"id":1905904,"date":"2023-03-28T09:41:02","date_gmt":"2023-03-28T13:41:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-says-he-would-not-have-supported-svb-bailout-brands-fed-chair-too-interest-rate-happy\/"},"modified":"2023-03-28T09:50:02","modified_gmt":"2023-03-28T13:50:02","slug":"trump-says-he-would-not-have-supported-svb-bailout-brands-fed-chair-too-interest-rate-happy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-says-he-would-not-have-supported-svb-bailout-brands-fed-chair-too-interest-rate-happy\/","title":{"rendered":"Trump Says He Would Not Have Supported SVB Bailout, Brands Fed Chair \u2018Too Interest Rate Happy\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-says-he-would-not-have-supported-svb-bailout-brands-fed-chair-too-interest-rate-happy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1905904&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"post_content\">\n<p>Former president Donald Trump has criticized Federal Reserve chair Jerome Powell for being \u201ctoo interest rate happy\u201d while taking aim at the government-aided bailout of Silicon Valley Bank (SVB).<\/p>\n<p>In an interview with\u00a0Fox News host Sean Hannity that aired on Monday, Trump was asked whether he would have supported the bailout of SVB after it collapsed, referring to the government intervening to\u00a0ensure that uninsured deposits at the bank are returned to customers.<\/p>\n<p>\u201cI wouldn\u2019t have supported a bailout.\u00a0The bank would have to get along by itself, and maybe they could have,\u201d Trump said, before citing\u00a0high interest rates as the reason for the institution\u2019s collapse.<\/p>\n<p>\u201cWhat happened with the bank is interest rates went too high. And you know,\u00a0I had my own situation with Powell and I beat the hell out of him,\u201d\u00a0Trump said. \u201cI was not a big fan of Powell.\u00a0He was recommended by some people. I didn\u2019t like him, he\u2019s too interest rate happy.\u201d<\/p>\n<p>Powell was initially appointed to the Federal Reserve Board by then-President Barack Obama in 2012 and nominated as chairman by then-President Trump in 2018.<\/p>\n<p>However, the Fed chair has come under fire from multiple experts and lawmakers over his handling of the economy as inflation has soared.<\/p>\n<h2>Warren Takes Aim at Powell<\/h2>\n<p>Last week,\u00a0Sen. Elizabeth Warren (D-Mass.)\u00a0accused Powell of\u00a0trying to put up to two million Americans out of work as part of the central bank\u2019s efforts to bring down inflation.<\/p>\n<p>In an\u00a0interview\u00a0on ABC\u2019s \u201cThis Week,\u201d the Democrat also accused Powell of taking a \u201cflamethrower\u201d to bank regulations during the Trump administration that were designed to ensure a\u00a0safer\u00a0U.S. financial system following the financial crisis of 2008\u201309.<\/p>\n<p>\u201cAnd what happened was exactly what we should have predicted, and that is the banks, these big, multibillion-dollar banks, loaded up on risk; they boosted their short-term profits; they gave themselves huge bonuses and big salaries; and they exploded their banks. And so where we stand now is the federal government\u2019s got to step back in and back up these multibillion-dollar banks,\u201d Warren said.<\/p>\n<p>Powell did not respond to The Epoch Times\u2019s request for comment regarding Warren\u2019s remarks.<\/p>\n<p>Trump\u2019s comments come shortly after the central bank\u00a0voted unanimously\u00a0to raise interest rates by\u00a025 basis points, increasing the benchmark federal funds rate to a range of 4.75\u20135.00 percent.<\/p>\n<h2>Trump Shares Inflation Plan<\/h2>\n<p>While speaking to reporters last Wednesday shortly after the vote, Powell said that the latest events in the banking system would likely \u201cresult in tighter credit conditions for households and businesses, which would, in turn, affect economic outcomes\u201d, adding that it was too soon to \u201cdetermine the extent of these effects\u201d and how the Fed would respond.<\/p>\n<p>The next meeting of the policy-making Federal Open Market Committee is scheduled for May, and experts widely anticipate another raise of 25 basis points.<\/p>\n<p>Also during Monday\u2019s interview, Trump shared his\u00a0solution to bring down red-hot inflation, stating that the government needs to turn its attention to bringing down oil prices.<\/p>\n<p>He noted that President Joe Biden had implemented various energy policies since taking office, including closing down the\u00a0Keystone XL pipeline, which was set to\u00a0carry around 800,000 barrels of oil per day into the United States, and curtailing domestic energy production.<\/p>\n<p>\u201cWhat you do is you get the oil prices down. That\u2019s bigger than interest rates \u2026 the only thing,\u201d the former president said. \u201cThose banks failed because the interest rates were too high, they stupidly bought long-term Treasurys, and those\u00a0Treasurys got crushed because Powell keeps raising interest rates.\u201d<\/p>\n<p>\u201cBut that\u2019s up to Biden. He\u2019s going to have to worry about that himself,\u201d Trump added.<\/p>\n<p>The Epoch Times has contacted the Federal Reserve for comment.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former president Donald Trump has criticized Federal Reserve chair Jerome Powell for being \u201ctoo interest rate happy\u201d while taking aim at the government-aided bailout of Silicon Valley Bank (SVB). In an interview with\u00a0Fox News host Sean Hannity that aired on Monday, Trump was asked whether he would have supported the bailout of SVB after it<\/p>\n","protected":false},"author":69,"featured_media":1905905,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[8384,9433,5184,7498,4142,6366,9460,21356,6536,3634],"class_list":["post-1905904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-bailout","tag-brands","tag-chair","tag-fed","tag-happy","tag-rate","tag-supported","tag-svb","tag-too","tag-trump"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1905904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1905904"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1905904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1905905"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1905904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1905904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1905904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}