＂TOO LATE, TOO ANGRY & TOO STUPID!＂ - Trump TORCHES Powell Over Fed’s Rate Decision
Episode Stats
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Summary
The fed holds rates steady for the fifth time this year, but some officials think it's the wrong call. Fed Chair Yellen calls President Trump an idiot and calls him a moron, and the markets go into a frenzy.
Transcript
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the fed holds rates steady for the fifth time this year but some officials think it's the wrong call
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okay so this is president trump's best friend for the last week they've been kicking it together
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all right they've been looking at properties of spending 3.1 billion dollars on it of course
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patting each other in the back hard you know finally we saw a little bit of powell's personality
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by putting his tongue out did you see when he when he did the did you see when he did that or
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no very awkward but you can you saw the child side of him he acted like a 12 year old it was
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interesting first time ever here's powell giving some good news to nobody my colleagues and i
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remain squarely focused not your colleagues just say you mandate goals of maximum employment and
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stable prices for the benefit of the american people despite heightened uncertainty the economy is still
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in a solid position the unemployment rate remains low and the labor market is at or near maximum
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employment inflation has come down a great deal but has been running somewhat above our two percent
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longer run objective in support of our goals today the federal open market committee decided to leave
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our policy interest rate unchanged the risks of higher unemployment and higher inflation appear to have
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risen and we believe that the current stance of monetary policy leaves us well positioned to respond in a
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timely way to potential economic developments okay so listen i'm not an economist back by a long shot
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yeah but he just said we are kicking ass everything looks good but you never know shit might hit the
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fan so to hell with all of you is that a right angle you know a part of me is so happy he's not
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lowering interest rates why do you know why why okay but was i right from my my assessment of what
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he just said listen he could have said this in five seconds we are not lowering peace out slap
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somebody in the back yeah and maybe he could have added screw you trump like something like that
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right which is really what he wants man but you know a part of me hopes he holds out for the rest of
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why let me tell you why because to me i would love for rates to not be lower till 2026 why because i
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believe 2026 is going to be the greatest year of our lifetime really i'm telling you okay u.s 250 year
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birthday yep trump turns 80 yeah world cups come in here holy moly and someone's going to have to keep
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lowering interest rates markets going to go bam oh wow money's going to be made in every way dow record
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every day smp record dow record nasdaq record record bitcoin record it's going to be all of that whole
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powell keep it going buddy keep doing what you're doing because by 26 someone's going to lower the rates
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and when they do it's going to be boom like this the day the announcements made when they lower the rates
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markets going to skyrocket i just hope it's not till 2026 and by the way to my real estate friends
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don't come slashing my tires don't come protesting outside of our office i'm telling you right now
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and no i'm not buying a house right now from you okay so don't call me all i'm telling you is i want
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the story and i think the story for 2026 is going to be awesome powell keep it going buddy please
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tom your thoughts on this and then tommy i'll come to you well what was really
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funny um uh i was talking to somebody and watching it live yesterday and i immediately
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tweeted out as soon as i heard him say that and i turned to the person that was in my office and i
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said did you hear that did you hear that click what's that the minute he said rate stable i heard
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a click you know what it was trump hit caps lock i said stand by we're gonna get we're gonna get
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tweets overnight but what's interesting did he did he actually tweet about it or no uh i have not
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seen i yeah he he truth socialed this morning he did this yeah okay he called him an idiot and a
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i don't know caps in it yeah it was true true social this morning oh there he is he is too late
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oh there we go stupid so i was prepping for podcasts i didn't see that one first first thing
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in the morning too angry too stupid and too political all caps so i was right so what's what's very
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interesting is um there were some people out there that felt there should have been a cut now uh most
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notably uh folks at schwab uh schwab uh published a paper yesterday that said look the pace of consumer
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spending has slowed uh job openings have slowed and we are seeing bulk layoffs um microsoft said that
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we're have a reconstitution uh we're reconstitutioning our uh our workforce with ai 9 000 people were laid
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off i believe it's three weeks ago with microsoft so schwab was saying you know there's data out there
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that says that perhaps the the economy could use it right now and what was interesting there were
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two dissenters one more prominent than the other the two dissenters that said they disagreed that
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they thought a quarter point now were on the on the fed committee and it was christopher waller
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and michelle bowman now michelle bowman is more significant you know why because christopher
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waller is known and has been leaking and speaking to friends allegedly and christopher i'm sorry i'm not
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trying to upset you but your name's been put in the hat by by proxies and people around you you'd
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like to be the next chair of the fed and we all know why because you're serving us very very well
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as part of the fed you're a smart person and you're like hey i'd like that next job that's completely
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normal so people kind of discounted waller well waller's trying to do that to lean with trump now who
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knows if that's the case or waller just really believes the economy could use a quarter point cut
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perhaps but michelle bowman to come out and say hey i do think the economy is ready for a quarter
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point uh cut uh i thought that was very significant and the uh cme fed watch tool which i watch a lot
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and i also keep my eye on what's called the dot plot and for those of you scoring at home these are
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just tools where people are monitoring the fed and i do it and talk about it so you don't have to
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the fed watch tool says we have a 68 chance now of a 25 uh basis point cut in september and another
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65 chance of a 25 cut in december and the dot plot is going to be updated right now i think it's stuck
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on its may update uh that's where it is and then yep and now cme has got a couple different um
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audiences that it tracks and there's an audience that rob just put up that thinks there's a 60 chance
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so that's what's going on now people talk about mortgages a lot affordability and housing is tied to
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the price of that house because the price you pay dictates the property tax and property taxes have
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gone way up for consumers since 2021 22 because the price of the house went up then to ensure that
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your homeowner's insurance goes up because you're insuring a more valuable property but people are
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forgetting so interest rates can help unthaw the market but you also have the trump budget needs
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these rates to come down for the interest on the debt which is in the trump budget also kelly loffler
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has been doing a very good job at sba with her team she needs interest rates to come down because
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she's got money that she wants to loan out the small business now on more favorable rates with more
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favorable programs for small business america and the trump administration is trying to get that out
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so for everybody that says oh biz stock you go on and on like this you've did the home values are
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making it expensive home values are part of affordability i get it property taxes insurance
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i get it but the interest rates is sort of the entry cost to get in there and that will help thought
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but there's other things that are going on there that are very important to the administration
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that they want the rates to come down what do you think about the story well i'll tell you this i
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understand why president trump is frustrated and i think he let it be known a total loser and our
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country is paying the price president trump hates to see america in any way lose or what he feels
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is losing everything under his control is america winning right now economically they said the tariffs
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were going to cause some kind of apocalypse that didn't happen real wages up gdp up things are looking
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good they said when we started deporting illegal aliens that we weren't going to have a workforce and
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that everything was going to collapse no one was going to pick the vegetables okay that has yet to
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happen trump's instincts have been correct this is the last thing where he's like i got the big
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beautiful bill i'm given no tax on tips overtime social security now i need this this is the final
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piece of the puzzle and it frustrates him and i get it i love your optimism about 2026 by the way i think
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that's great we can hold on till then i think but i understand trump's frustration and to your point
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the small businesses that are like things are looking good we want to expand we want to hire more we
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you know we're so excited right now they're chomping at the bit to get going and president
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trump wants to see that for them so it's frustrating for him but i think it's a game of chicken and
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powell doesn't want to be the one who caves to trump right and costing our country trillions of dollars
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that's the interest on the debt that's part of the trump budget yeah adam so there's so much
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conversation about trump being a dictator trump's an authoritarian and he's going to be a king
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he can't even control his own appointed fed chairman let's not forget about that for all
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the people out there that think that trump is just some authoritarian dictator he can't even convince
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the person that he put in place as the fed chairman to lower rates even after calling him out calling
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him a loser calling him stupid calling him too late saying that he's the worst person for the job
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this is why i love america because jerome uh powell will look at trump and be like
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yeah i don't really care what you have to say buddy actually respect that i actually love that
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do i think that it's time to lower interest rates possibly you know the fed has two what two
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main jobs to cool inflation which is at 2.7 percent their target rate is two percent and to keep
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america working and make sure that the unemployment basically stays uh where it is right now don't look
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now but america is doing pretty damn good uh all the talk in the spring about america going into
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recession that conversation's over stock markets at basic all-time high bitcoin at all-time high
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gdp per capita incredible strong dollar consumer confidence the vix is very low the fed fund rate
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right now is what at four and a half percent prime rates at seven and a half percent the united
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states economy is the envy of the world and i think jerome powell as much as trump hates him kind of
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knows what he's doing i just don't know if this is personal political or if it's a straight economic
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but we'll wait and see what happens in september right yeah i mean look to me even though tom is
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saying there's two more the 65 chance september and bless you one more in december i'm hoping it's
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just one instead of two and the president has to realize he's going to be president for
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three and a half more years okay closer to three years now sir i know but it's still three years and
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five months but he's going to be in there for nearly three and a half more years midterms are
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not till when november okay so imagine they they do only one rate increase a rate cut in december
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and then the market goes off in the year of midterms right record-breaking guess what's going to happen
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with house guess what's going to happen with flipping some seats i actually would like the momentum to
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not happen till we get closer to midterms truly i i like it to not happen till we get closer to
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because nobody if you look at the market like hey my 401k's up hey my hey my bitcoin dude i don't want
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to do anything let it keep from i'm not going to say i'm a republican but we're going to stay quiet
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we're going to know that's what's going to happen if the market's doing good so he's got time you were
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asking about the latest polo shirts that are coming up uh it took us a few months to get them they're
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finally in i wore one of these everybody was asking where did you get these vitamin polo shirts
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they're right there we got them in brown black white gray and another white there's a bunch of
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them on here for those because it's hot yesterday we flew them from orlando we're on a flight
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flying back on this uh private jet and we're asking the pilot hey can you turn on the ac i can't turn
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on the ac mario makes the mistake of asking the guy says i heard this is a this is a mock what did
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he ask him he says does it go mock and the guy was like yeah it goes mock 1.5 it was actually
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one point one of distance and then next you know we get on the jet and this guy goes
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he starts doing all this stuff showing off i'm like what is this guy doing on the way back we're
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flying low he says i can't turn on the ac i get off the plane you're you remember what i look like
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i get off the plane my entire shirt is flipping you know drenched and this is why tommy just announced
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she's moving to florida because she loves the humidity here but for some of you guys that are in
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the heat you want to wear a polo shirt and uh have the vitamin gear on uh go place your order
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at vtmerch.com we did not order too many of these but if you want to get them go to vtmerch.com place
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your order support them we were at orlando at the gaylord event cannot wait to see all of you guys at
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