Former President Donald Trump appeared on 'Hannity' to sound off on the banking collapses and state of the economy, along with other topics on Monday.
suggested Federal Reserve Chairman Jay Powell is too singularly focused on interest rates, while offering what would have been an energy-based alternative economic adjustment in the wake of recent bank failures.
Some observers said SVB was forced to sell large volumes of T-bonds – which had diminished in value due to spiking interest rates – at a loss to cover marked increases in withdrawal requests from its tech-sector-heavy clients. Former U.S. President Donald Trump speaks to the media during an election night event at Mar-a-Lago on November 08, 2022 in Palm Beach, Florida. Trump spoke as the nation awaits the results of voting in the midterm elections.Trump criticized Powell – whom he nominated to replace current Treasury Secretary Janet L. Yellen as Fed chair – saying that he"had his own situation" with him and had to proverbially"beat the hell out of him.
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