Being both a life-time speculator in leveraged real estate and an economic ignoramus to boot, it is not surprising that the Donald came out swinging at the Fed this morning. Said the “low interest man” in the Oval Office:
It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!
Then again, there has been some not inconsiderable inflation over the past nine years—even if it wasn’t entirely visible on floors 66-68 of Trump Tower. As depicted by the red bars in the chart below, in fact, a dollar you saved in January 2010 is barely worth 80 cents today.