Valuetainment - ＂Too Late Powell＂ - Trump ERUPTS On Fed Chair Over Interest Rates In STUNNING Attack

00:00:00.000 Trump shifts blame to Jerome Powell after a shock job report threatens President, with worse, his hiring slowdown in years.

00:00:08.760 Trump criticized Federal Reserve Jerome Powell after the ADP national employment report showed private payrolls increased by only 37,000 jobs in a month that made the lowest since March of 2023.

00:00:18.520 Posting on Truth Social, ADP numbers out.

00:00:21.040 Too late.

00:00:21.560 Powell must now lower the rate.

00:00:23.880 Trump claimed he is unbelievable.

00:00:26.000 Europe has lowered nine times, despite the European Central Bank cutting rate seven times, with the latest in mid-April. 0.97

00:00:32.280 The weak job report far below the 110,000 job forecast by Reuters economists prompted—damn, that's 30 percent of it.

00:00:40.700 That's not good—prompted Trump's pressure on Powell, who has kept interest rates between four and a quarter and four and a half, with the Fed stating after a May 29 meeting with Trump,

00:00:49.280 Chair Powell did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information.

00:00:58.740 Jamie Dimon stated, the amount of mismanagement is extraordinary, citing high yields and national debt risk.

00:01:05.040 Tom.

00:01:06.120 Well, guess what?

00:01:07.900 I'm citing with the president on this, and let me paint it for you. 0.99

00:01:10.900 I'm going to paint you fat. 0.96

00:01:12.020 Words talk, but numbers scream. 0.95

00:01:14.200 Let's go look at some numbers.

00:01:15.500 So, I pulled together four quick exhibits, Pat, that we can go through this, and if you're watching, I hope you can see it in video and on their rate, for those of you that are listening.

00:01:25.340 So, the first thing we have CNBC pointing out, they say, Trump says, too late, Powell.

00:01:31.300 But, underneath, they talk about facts, things that are happening with European Central Bank cutting rates, and they also talk about jobs.

00:01:39.080 Then, we go over here, Procter & Gamble.

00:01:41.340 Take a look here.

00:01:42.000 Headline, today, this morning, Procter & Gamble to cut 7,000 jobs.

00:01:47.860 Wow.

00:01:48.360 So, I looked at it, and I said, well, let's just say that's one headline, one company.

00:01:53.020 That's certainly a lot of people.

00:01:54.460 But, if jobs are being cut, and then employment is threatening to go up, that is a very, very, very, very, very good reason to lower interest rates.

00:02:02.200 So, then I go, how many, what has been happening with jobs?

00:02:05.060 So, I went and took a look.

00:02:06.420 And, guess what I found out?

00:02:08.560 It's the, where is that, Rob?

00:02:10.900 Do you have that?

00:02:12.180 Yeah, right here.

00:02:12.800 There it is.

00:02:13.680 Check this out.

00:02:16.200 May over May, 47% increase in job cuts.

00:02:20.660 May 24 versus May 23. 0.96

00:02:23.200 100,000 cuts in the United States.

00:02:26.120 Walt Disney, TikTok, Electronic Arts, Microsoft, Google, Match Group, Amazon, Morgan Stanley, and Bristol-Myers Squibb.

00:02:33.720 I'm naming things from biotech to retail.

00:02:37.600 So, that's happening.

00:02:39.080 Interesting.

00:02:39.700 Well, you know, that would seem to indicate that maybe Powell should give us a quarter point.

00:02:44.960 Well, when does that happen?

00:02:46.060 Let's look at the European Central Bank.

00:02:47.880 So, this morning, European Central Bank headline, eighth straight cut.

00:02:52.280 So, he said nine times, but the eighth straight cut is coming because Lagarde, he says, is forced.

00:02:58.700 And she said she has hit 1.7, 1.8% inflation in Europe.

00:03:04.100 And so, we are taking it down.

00:03:05.680 So, take a look right here.

00:03:07.380 Inflation in Europe went down to 2%.

00:03:09.220 And she says, I'm giving you another quarter point.

00:03:12.360 That is the eighth cut in a row.

00:03:14.400 Trump said nine in his tweet.

00:03:16.840 Actually, it's eight, which means eight times 0.25.

00:03:21.400 If you have eight quarters, Vinny, you have $2.

00:03:23.660 So, that's two full points they've cut, eight cuts in a row.

00:03:27.640 Now, we go to the dot plot, Pat.

00:03:29.300 This is very interesting.

00:03:30.420 This is where the Fed Board of Governors are telling us, and the last dot plot they did was in March.

00:03:39.740 And here it is.

00:03:41.080 They are, right now, our interest rate is 4.25 to 4.5.

00:03:45.620 The dot plot has it, you see the cluster of dots that is drifting down towards 3%.

00:03:51.880 That is where they are actually saying, yeah, we think we better get with the program and maybe get set here to make a cut.

00:04:01.260 So, now we go to the calendar.

00:04:03.060 Go to the calendar.

00:04:03.920 Federal open market.

00:04:05.100 When will they get together, and why is Trump so revved up right now?

00:04:08.940 Oh, June 17th, 18th.

00:04:12.620 Uh-oh.

00:04:13.400 That's a week and a half from now.

00:04:15.720 The Fed will meet.

00:04:17.580 And you've got job reports coming out.

00:04:19.640 You've got the European Central Bank now has their interest rate, Pat, at 2%, half of ours.

00:04:25.820 We are 4.25, 4.5.

00:04:27.460 They are half, which means the dollar is stronger because it's more expensive.

00:04:31.600 You look at the interest rate.

00:04:32.700 Who's more expensive?

00:04:33.480 That's a stronger currency.

00:04:34.860 And take a look here.

00:04:35.980 I am with the president on this one.

00:04:37.740 Now, the president has been talking to Powell a lot, a lot, a lot.

00:04:40.820 And there were people out there, even CNBC was saying, he's been so heavy on this.

00:04:45.620 Maybe it's like the boy who cried wolf.

00:04:47.440 But right now, he's not crawling wolf because you know what it is?

00:04:50.740 Trump is a business guy.

00:04:52.260 You make deals based on what you see and you read tea leaves.

00:04:55.460 Government is fully reactionary.

00:04:57.460 It goes like this.

00:04:58.440 Trump is a lifeguard.

00:04:59.680 He sees a black shadow in the water out there.

00:05:02.540 He blows a whistle, sounds a horn.

00:05:04.200 And let's find out what the shadow is because it could be a shark.

00:05:07.420 So let's get everybody out of the water, just normal thing at the beach, blow it.

00:05:11.480 However, this is how Powell works.

00:05:14.260 Powell works when he sees a fin in teeth.

00:05:17.820 And everybody gets out of the water and everybody's happy except fat Mr. Johnson who just got bit because he's the slowest swimmer. 0.51

00:05:24.080 Fat Johnson.

00:05:25.420 So you see what I mean?

00:05:26.580 That's Powell.

00:05:27.440 Powell waits until he sees the fin in the water and some blood.

00:05:30.880 Trump is out there saying, I see a black shadow in the water.

00:05:33.820 I don't like it.

00:05:34.900 In this case right here, I am behind the president 100%.

00:05:37.760 Powell should cut a quarter point coming up next week.

00:05:42.060 Absolutely.

00:05:43.320 Especially on the heels of the numbers and everything that are coming up.

00:05:47.100 I don't think Powell will.

00:05:48.640 I think they're thinking about it.

00:05:50.020 I think the dot plot is showing it, but I think they're going to wait until July 7th to 9th.

00:05:57.160 I think that's the way Powell reads it.

00:05:59.360 I think he'll wait until July 7th to 9th to drop a quarter and we'll get early sniffs of second quarter earning reports because you'll right be there on June 30th.

00:06:07.920 And we'll probably get some more things.

00:06:09.620 But come on, man.

00:06:10.540 Look at that list of companies.

00:06:12.000 It was biotech, Microsoft, electronics, retail.

00:06:15.340 There's a lot of things happening.

00:06:16.660 And the job cuts in America are up 47% this May versus last May.

00:06:23.920 Come on, man.

00:06:24.860 That's a black shadow in the water.

00:06:26.440 Come on, man.

00:06:26.880 Come on, man.

00:06:27.860 Good job, Tom.

00:06:29.380 Shoulda, woulda, coulda.

00:06:30.840 I'm not going to get into the weeds or in depth as good as Tom is, but I will explain the relationship between Trump and Powell as best as I can.

00:06:37.880 So there's nothing more that Trump would like to do than yell two words to Jerome Powell, and that's, you're fired.

00:06:45.620 He's threatened him.

00:06:46.580 He's dissed him.

00:06:47.100 He's publicly berated him.

00:06:48.540 He's threatened to fire him.

00:06:50.120 But looky, looky, looky here.

00:06:51.980 Jerome Powell hasn't gone anywhere.

00:06:53.680 Has he?

00:06:54.580 Has he conceded to Trump once?

00:06:57.280 Trump is the person that put Powell in charge of the Fed in 2018.

00:07:01.620 How many times has he completely berated him in the public?

00:07:06.900 And has Jerome Powell done anything?

00:07:09.640 So here's my opinion.

00:07:11.500 I think Trump is like, they're both driving the car together.

00:07:15.400 Trump, he's all gas, no brakes.

00:07:17.900 We had that guy on the show, Andrew Callahan.

00:07:20.940 Trump is like, go faster, cut the rates.

00:07:23.400 We want dynamic growth.

00:07:24.820 Let's go, let's go, let's go.

00:07:25.800 And Jerome Powell's like, listen, guy, there's a speed limit here.

00:07:29.380 We're going to basically try to take it easy.

00:07:31.620 I get it if you want to speed a little bit.

00:07:33.420 But we're going to stay in the lanes here.

00:07:35.100 And we're going to go exactly what the speed limit should be.

00:07:38.500 And that is the height of the conflict of what's going on here.

00:07:41.520 Trump wants to go fast.

00:07:43.120 All gas, no brakes.

00:07:44.580 And Jerome Powell's basically saying, pump the brakes, buddy.

00:07:47.260 I know you're president of the United States.

00:07:48.620 But I'm president of the Central Bank.

00:07:50.400 And I'm going to run this show.

00:07:51.420 Do you think he's doing a good job?

00:07:52.360 Because, I mean, obviously, Trump hired a bunch of people when he first came in

00:07:55.420 because he didn't know any better.

00:07:57.200 You think it was a good choice to have Powell or not?

00:07:59.620 Because, I mean, the feds don't answer to anybody, right, Tom?

00:08:02.420 They're their own.

00:08:03.080 I think Powell has been a steady hand at the wheel when there's been a lot of chaos in the world.

00:08:09.500 So, good choice.

00:08:10.140 I'd give him a B+.

00:08:11.200 What do you think?

00:08:11.700 I don't think Jerome, like, you know some of these guys get jobs

00:08:16.500 and they just want to get in front of the camera.

00:08:18.480 Of course.

00:08:19.620 That's not this guy.

00:08:20.380 Oh, for sure.

00:08:20.760 So, he's not doing it because he's trying to come up with a book and say,

00:08:23.200 I'm now an independent.

00:08:24.520 Biden did this.

00:08:25.960 He's not that guy.

00:08:26.740 He's just kind of like, look, man, you asked me to do this job, I'm going to do my best.

00:08:31.060 It sucks because you have to deal with Trump and every day is going to call you out, 0.97

00:08:34.780 blame everything on you, da-da-da-da-da-da. 0.99

00:08:36.280 But here's what I'm doing.

00:08:37.740 I think the more we wait, the better it is, you know,

00:08:41.920 because it's forcing the market to correct the fake actors.

00:08:47.260 And, you know, I'm not worried about June or July because, you know,

00:08:51.720 of course you'd want June because June becomes what?

00:08:53.980 Q2 instead of having a July.

00:08:56.420 July becomes what?

00:08:57.460 Q3.

00:08:58.160 So, you may, you know, you may, it may help June if you do the reports this month,

00:09:04.660 lower the rates this month instead of next month.

00:09:06.660 But I actually don't mind him taking his time.

00:09:08.420 I don't.

00:09:09.360 I don't mind him taking his time.

00:09:10.360 I am more concerned about the stuff that's going on over there with the war

00:09:13.000 than I'm concerned about this.

00:09:14.920 I agree with that.

00:09:15.760 We can wait one more month.

00:09:16.840 We can wait one more month before we get there.

00:09:19.320 And, by the way, you know what's crazy?

00:09:20.640 If I was Trump, I'd be doing exactly the same thing I'm doing.

00:09:23.260 Hurry up and lower the rates.

00:09:25.080 But as a consumer that I'm not the president, guess what?

00:09:28.940 I'm saying it's okay if we go one more month.

00:09:32.100 So I'm supportive of both sides.

00:09:33.980 Would you agree with one thing?

00:09:35.260 You don't hear me like this.

00:09:36.500 You don't hear me.

00:09:37.220 And, by the way, you made a very eloquent argument on all our numbers.

00:09:40.720 If we're at four and a quarter, four and a half, Europe is at two points.

00:09:44.480 Half of us, and, of course, a dollar is strong because they used to talk about

00:09:47.100 how weak the dollar was.

00:09:47.960 Now the dollar is strong.

00:09:48.800 But you don't want to come a little bit lower?

00:09:51.540 Like a little bit?

00:09:52.900 You think a quarter or a half is going to do anything?

00:09:55.220 No.

00:09:55.740 Do it.

00:09:56.120 I get that argument.

00:09:57.620 But we can wait one more month.

00:09:58.760 How much influence would you say between zero and 100 Trump actually has on Powell?

00:10:06.020 10%.

00:10:06.420 Yeah, I think that's even a high number.

00:10:08.600 Yeah, 10%.

00:10:09.420 There's no indications that Powell has listened to Trump.

00:10:12.600 No.

00:10:13.060 I don't think Powell goes to sleep being worried about getting fired.

00:10:15.700 Not at all.

00:10:16.520 No, I don't think he cares.

00:10:17.620 And not in an arrogant way.

00:10:19.880 Not in a Comey way.

00:10:21.600 Not in a Hillary way.

00:10:22.840 I just don't think he cares.

00:10:23.940 He's like, look, you asked me to do this job.

00:10:25.660 He probably was raised good by his parents, that he's got pride in his job and his duties

00:10:30.680 and his country and all that stuff.

00:10:32.420 And he wants to do his job right.

00:10:33.640 And I'm okay with that. 0.92

00:10:34.280 You remember when he started talking trash about Trump? 0.71

00:10:37.000 When is that? 0.76

00:10:37.860 Exactly.

00:10:38.300 It never happened.

00:10:39.020 He just keeps quiet.

00:10:39.940 It's not him.

00:10:40.540 It's not his style.

00:10:41.420 Last year, we ran one of the coolest contests ever.

00:10:44.880 And I thought it was going to be a basic dinner and meet and greet and all this other stuff.

00:10:49.040 It turned into a massive spectacle.

00:10:50.900 It was a Manet contest for two months for lightweight, middleweight, heavyweight, and super heavyweight.

00:10:55.720 And even users got involved.

00:10:57.340 And we invited the top three.

00:10:58.840 You pay your flight, hotel, all that stuff.

00:11:00.220 But once you came here, we went to dinner together at Casa D'Angelo.

00:11:03.380 Top-notch dinner.

00:11:04.560 Then we went to the cigar lounge.

00:11:06.480 And it was such a great time.

00:11:08.160 We stayed together until midnight.

00:11:09.360 We had six and a half hours of conversations.

00:11:11.560 I'm going to show you the highlight from last year.

00:11:14.080 Then I want to announce this contest for all of you guys to compete in from June to July.

00:11:18.820 And the dinner will be sometime in August.

00:11:20.720 Rob, play this clip.

00:11:21.400 Go for it.

00:11:21.820 We just had our first Manet dinner.

00:11:25.780 Let me tell you, it was so awesome because we had the dinner.

00:11:28.140 It was absolutely an amazing experience.

00:11:32.500 The conversations, the networking, great.

00:11:38.760 People from all over the world.

00:11:40.620 So I said, maybe I'll stick around for an hour, maybe an hour and a half.

00:11:43.680 But then afterward, we came right here at the cigar lounge.

00:11:49.660 I stayed till midnight.

00:11:51.580 We had six and a half hours of conversation.

00:11:54.680 That was fantastic.

00:11:56.000 Yeah.

00:11:56.520 So if you weren't there, you missed it.

00:11:58.160 We wish you were there.

00:11:59.080 But I'll give you one counsel.

00:12:04.060 We're about to announce the next contest.

00:12:06.540 Do not miss the next Manet contest.

00:12:10.800 And I hope to see you there.

00:12:14.200 By the way, it was so great.

00:12:15.500 Deals were done.

00:12:16.480 Relationships were built.

00:12:17.700 Conversations.

00:12:18.240 So go download the app if you haven't yet.

00:12:20.180 Whether it's Apple or Google.

00:12:22.080 Start Manetting. 0.97

00:12:23.120 Ask questions.

00:12:24.560 Nowadays, we got Ray Lewis that's officially on Manet.

00:12:27.220 And he's responding back to people on Manet.

00:12:29.120 By the way, Stephen A.

00:12:29.940 Smith's going to get active on Manet on today or tomorrow.

00:12:32.900 Starting his account for.

00:12:33.800 People can ask Stephen A.

00:12:34.940 Questions.

00:12:35.280 James O'Keefe.

00:12:35.720 Anna Kasparian.

00:12:36.680 James O'Keefe.

00:12:37.500 Paul Saladino.

00:12:38.480 Terrence Howard.

00:12:39.820 Cuomo.

00:12:40.260 There are so many great people.

00:12:42.000 Lindy Lee is crushing it. 1.00

00:12:43.600 Killing it. 0.99

00:12:44.080 On Manet the way that it's going.

00:12:45.500 And by the way, who knows who's going to be at this dinner when we host this.

00:12:48.360 So if you like good conversations, if you want to come to South Florida, we're going

00:12:51.640 to probably give you a tour to headquarters as well when you come down here.

00:12:53.980 Then go straight to dinner.

00:12:55.080 Then go straight to the Cigar Line, which is a private club.

00:12:57.800 But some of you guys will have a chance to be a part of it.

00:13:00.540 And by then, we have a lot of new surprises with the private club.

00:13:03.280 So you'll get a chance to tour as well.

00:13:04.780 So download the app.

00:13:06.340 Start Manetting. 0.97

00:13:07.120 Start competing.

00:13:07.720 The update on the Leaders Bulletin will be on Manet.com.

00:13:10.500 Rob, if you go to Manet.com, just go to Manet.com.

00:13:12.740 And if you look at the contest, on the experts, that's how it works.

00:13:16.640 Okay?

00:13:16.940 If you look at it, lightweight right now at the top is Dean Mason.

00:13:19.940 James O'Keefe right now is second place.

00:13:21.440 Then it's Luis Concior.

00:13:22.420 Go to a middleweight, Rob.

00:13:24.320 Middleweight right now is John Mason.

00:13:26.500 Then Lily Tam.

00:13:27.340 Then it's James Murphy.

00:13:28.620 Let's go to heavyweight. 0.60

00:13:29.700 Heavyweight.

00:13:30.220 Because everybody from heavyweight goes to super heavyweight.

00:13:32.180 So it's Daniel number one, Michael Maher, Matt Sopala.

00:13:35.120 Then at super heavyweight is what?

00:13:37.560 Super heavyweight is Lindy Lee, myself, Timothy Ryan, Oshana Tom Sauce, Dennis Punemann, a couple

00:13:42.820 other guys.

00:13:43.400 By the way, the scoring will be the following.

00:13:45.080 To compete the next two months, lightweight will have to do a minimum of 200 points.

00:13:48.860 You have to be lightweight today.

00:13:50.020 You can go up.

00:13:51.120 But we're going to calculate your points from today.

00:13:52.760 Middleweight, you have to do a minimum of 400.

00:13:55.360 Heavyweight is a minimum of 400 points.

00:13:56.860 And super heavyweight has to be 1,500 points.

00:13:59.200 And the user's contest, go to user's wrap, a new user goes out there, 200 points you

00:14:05.820 score, new users, existing user has to be 400 points, you'll be invited to that dinner

00:14:11.120 and a cigar lounge with us.

00:14:12.560 Go download the app, start connecting today.

00:14:14.100 If you enjoy this video, you want to watch more videos like this, click here.

00:14:16.860 And if you want to watch the entire podcast, click here.

Valuetainment - June 06, 2025

＂Too Late Powell＂ - Trump ERUPTS On Fed Chair Over Interest Rates In STUNNING Attack

Episode Stats

Summary

Transcript