President Donald Trump applauded the Federal Reserve for buying mortgage securities from banks — a form of government socialism — in order to funnel billions to the banks.
Trump also thanked the Federal Reserve for dropping the benchmark interest rate to 0.25% — to save Trump’s fragile economy that has been cratering for the past two weeks.
The Federal Reserve is calling its socialistic bailout a “$700 billion quantitative easing program,” reports CNBC.
The Fed said that foreign banks — Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank — are helping prop up the fragile American dollar.
(Sources: CNBC, MSNBC)
Get the latest breaking news video clips before everyone else with our newsletter! We do not share or sell your email address with anyone.