Washington Post columnist Catherine Rampell busted Trump-loving economist Stephen Moore on Friday when he falsely claimed that we are seeing vast “deflation” in the United States economy thanks to interest rate hikes by the Federal Reserve.
During a CNN appearance, Moore tried to maintain that the economy was as strong as ever, but he also blamed the Fed for tanking the stock market by raising interest rates over the past several months.
“Both of the rate hikes were unnecessary and were a cause for deflation in the economy,” he said.
“Wait, wait, wait!” interjected Rampell. “There is no deflation!”
“Yeah there is,” Moore replied.
“No there is not,” she shot back. “Look at the Consumer Price Index!”
Moore tried to counter by noting that some prices on the Commodities Price Index had dropped — but Rampell hit back by saying that much of that was due to President Donald Trump’s trade wars.
“Soy bean prices are falling because of the trade war,” she said.
Rampell then nailed Moore for his false warnings during the Obama presidency that it was unwise for the Fed to keep interest rates low because it would lead to hyperinflation — despite the fact that the economy at the time was deeply depressed and much more in need of easy money.
“I’m old enough to remember when, ten years ago, during an actual deflation, you went on TV on a rival network and said we were about to have hyperinflation and told the Fed that it was irresponsible then to keep rates low,” she said. “It’s totally inconsistent and it’s totally irresponsible to make up numbers.”
“I’m not making up numbers,” Moore replied defensively.
Watch the video below.
Angry Minnesota farmer bashes ‘insulting’ Trump comments that ‘we’re great patriots’ during his trade war
President Donald Trump has insulted at least one Minnesota farmer by his claim that farmers are "great patriots" who want him to continue his trade fight against China.
"This wound is self-inflicted, by our president," said Gary Wertish, who is the Minnesota Farm Bureau president. "We definitely agreed with it in the beginning. But it doesn’t appear that there’s a plan B. Some of the callous comments come, especially from the president, you know, that farmers are 'winning,' we’re 'great patriots,' that’s very insulting. That’s coming from someone who never has faced the challenges of a family farmer. I go into the bank and tell the lender I can’t make the payment because we lost our market? The banker is going to tell me you don’t have to make your payment because you’re a patriot."
CNN’s Jake Tapper confronts Trump adviser Navarro with long list of experts calling him a disaster
In a highly contentious interview on CNN's "State of the Union", host Jake Tapper confronted Donald Trump's top economic adviser, Peter Navarro, with a seemingly endless list of economists, analysts and business publications who believe he and his economic advice have both been a disaster and that he is not being straight with the public.
After refusing multiple times to concede that President Donald Trump's trade war -- and accompanying tariffs -- are having any effect on an economy that many financial prognosticators believe is headed towards a recession, Tapper confronted the White House adviser with the list of his critics -- including the Wall Street Journal.
Trump furious with Steve King for crippling his re-election chances in Iowa: CNN’s April Ryan
Sitting in with CNN's Victor Blackwell on Sunday morning, contributor April Ryan relayed that Rep. Steve King (R-IA) is in big trouble not only with his party over his latest comments about rape and incest, but that Donald Trump is aggravated with him too because he may impact the president's chances in Iowa in the 2020 election.
With King reeling from the fallout from his own comments made during an appearance earlier in the week, Ryan said that his days may be numbered because senior Republicans want him gone too.