• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
‘Scares The Hell Out Of Me’: Charles Payne Says Fed Is Clueless On US Economic Damage

‘Scares The Hell Out Of Me’: Charles Payne Says Fed Is Clueless On US Economic Damage

December 19, 2024
Trump Admin Orders Immigrants From 4 Different Countries to Leave

Trump Admin Orders Immigrants From 4 Different Countries to Leave

June 12, 2025
Senate Budget Hawks, Top Trump Advisor Clash Over Border Spending In ‘Big, Beautiful’ Bill

Senate Budget Hawks, Top Trump Advisor Clash Over Border Spending In ‘Big, Beautiful’ Bill

June 12, 2025
EXCLUSIVE: House Conservatives Urge Senate To Keep ‘Pay-For’ In Trump Bill

EXCLUSIVE: House Conservatives Urge Senate To Keep ‘Pay-For’ In Trump Bill

June 12, 2025
‘Get Some F*cking Balls’: Dem Rep Goes On Profane Tirade Against GOP Colleague On House Floor

‘Get Some F*cking Balls’: Dem Rep Goes On Profane Tirade Against GOP Colleague On House Floor

June 12, 2025
Declassified Docs Show Robert F. Kennedy Met With CIA After Soviet Union Trip

Declassified Docs Show Robert F. Kennedy Met With CIA After Soviet Union Trip

June 12, 2025
Democrat-Leaning Firms Reveal Just How Bad Dems Are Polling On Immigration

Democrat-Leaning Firms Reveal Just How Bad Dems Are Polling On Immigration

June 12, 2025
Elmo-Wielding Hakeem Jeffries Hits House Floor Attempting To Stop GOP From Scrapping PBS Funding

Elmo-Wielding Hakeem Jeffries Hits House Floor Attempting To Stop GOP From Scrapping PBS Funding

June 12, 2025
208 House Democrats Vote Against Codifying DOGE Cuts

208 House Democrats Vote Against Codifying DOGE Cuts

June 12, 2025
At Least 4 Dead From Texas Floods While Another 2 Still Missing

At Least 4 Dead From Texas Floods While Another 2 Still Missing

June 12, 2025
Pentagon Has Contingency Plans to Invade Greenland If Necessary: Hegseth

Pentagon Has Contingency Plans to Invade Greenland If Necessary: Hegseth

June 12, 2025
California, Dem Allies Immediately Sue Trump For Terminating EV Mandate

California, Dem Allies Immediately Sue Trump For Terminating EV Mandate

June 12, 2025
Senator Removed From Noem News Conference in LA

Senator Removed From Noem News Conference in LA

June 12, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Thursday, June 12, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

‘Scares The Hell Out Of Me’: Charles Payne Says Fed Is Clueless On US Economic Damage

by Daily Caller News Foundation
December 19, 2024
in News, Wire
250 2
0
‘Scares The Hell Out Of Me’: Charles Payne Says Fed Is Clueless On US Economic Damage
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Daily Caller News Foundation

Fox Business host Charles Payne said Thursday that members of the Federal Reserve appear clueless about how their plan impacts the economy and warned they don’t have a “grasp” on the issue.

The Federal Reserve announced Wednesday that it will lower its federal funds rate to a target range of 4.25% to 4.50%, marking the third cut of the year in an effort to ease inflation. On “Kudlow,” Fox Business host Larry Kudlow called out the Fed’s move and asked Payne his thoughts about the central bank’s “mistakes” handling inflation.

“I’m just saying though all that’s a long stone’s throw from what the Fed’s doing,” Kudlow said.

“They are goofing around. They are saying black is white, white is black. How can you understand the central bank that is making mistakes, won’t acknowledge that their models have failed and their strategy on inflation is failing? How do you figure?”

Payne responded.

“When Jay Powell yesterday said that finding a job that it’s been pulling back moderately. I used a chart on my show yesterday and today. No, it’s falling off a cliff. It’s collapsed,” Payne said.

“A long-term unemployment over 27 weeks is skyrocketing. Job listings by Indeed has fallen off a cliff. So when I hear the Federal Reserve chairman talk about these things in such a casual manner, it scares the hell out of me.”

WATCH:

Following the announcement of the Federal Reserve’s cut, U.S. stocks hit one of their worst days within the year, with the S&P 500 falling 178 points (3%), the Dow Jones Industrial Average losing 1,123 points (2.6%) and the Nasdaq composite dropping 3.6%, according to CBS News. In response to the cut, Powell said he believes it was the “right call” and that “the slower pace of cuts for next year reflects the higher inflation readings we’ve had this year.”

“What’s happening is that you don’t have a grasp on what’s happening,” Payne said.

“Then when you’re data dependent, right, and the data is revised so dramatically month after month. You mean to tell me that you’re basing policies on faulty information? You’ve got all the PhDs in the world. You have access to every business out there. Get ahead of the curve sometime.”

Data from the Bureau of Labor Statistics (BLS), released in November, showed that while economists had expected 110,000 jobs to be added in October, the U.S. added only 12,000 nonfarm payroll jobs. The BLS’ most recent report, released Dec. 6, found that nonfarm payroll employment rose by 227,000, “changing little” from the 4.2% unemployment rate in November compared to 4.1% in December, with 7.1 million people currently unemployed.

Inflation, a major concern for both voters and businesses, has continued to affect the U.S., peaking at 9.1% in June 2022. Despite cuts, inflation has remained above the Fed’s 2% target and is now expected to stay above that level until 2027, according to MarketWatch.

(Featured Image Media Credit: Screenshot/Fox Business/”Kudlow”)

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Tags: DCNFU.S. NewsUS
Share196Tweet123
Daily Caller News Foundation

Daily Caller News Foundation

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th