• 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 Blasts Media During Cabinet Meeting 

Trump Blasts Media During Cabinet Meeting 

July 8, 2025
Left-Wing Pundits Cite Trump’s ‘Big, Beautiful Bill’ To Float Theory That Midterms Will Be Rigged

Left-Wing Pundits Cite Trump’s ‘Big, Beautiful Bill’ To Float Theory That Midterms Will Be Rigged

July 8, 2025
Teachers Union’s ‘Climate Justice’ Goals Meet Fiscal Reality As Students Fail

Teachers Union’s ‘Climate Justice’ Goals Meet Fiscal Reality As Students Fail

July 8, 2025
Some Chicago Dems Clamoring For Ex-Con To Run For Congress Again

Some Chicago Dems Clamoring For Ex-Con To Run For Congress Again

July 8, 2025
DANIEL MCCARTHY: Democrats Need Populism, But Not Zohran’s Sort

DANIEL MCCARTHY: Democrats Need Populism, But Not Zohran’s Sort

July 8, 2025
Reporter Asks Pam Bondi About Missing Minute In Epstein Jail Footage

Reporter Asks Pam Bondi About Missing Minute In Epstein Jail Footage

July 8, 2025
DeSantis, Harris Volley Jabs Over Hurricane Milton: ‘It’s Not About You, Kamala’

DeSantis to Musk: America Party Not the Answer

July 8, 2025
‘Who The Hell Does He Think He Is?’: JD Vance Blasts Mamdani For His Disrespectful Tone Toward US

‘Who The Hell Does He Think He Is?’: JD Vance Blasts Mamdani For His Disrespectful Tone Toward US

July 8, 2025
Key GOP-Aligned War Chest Overflowing With Cash As Midterms Loom

Key GOP-Aligned War Chest Overflowing With Cash As Midterms Loom

July 8, 2025
Trump Admin Moves To Block China From Grabbing Up American Farmland

Trump Admin Moves To Block China From Grabbing Up American Farmland

July 8, 2025
Biden Admin Paroled Thousands Of Migrants Into US Without Any Plan To Return Them Home

Biden Admin Paroled Thousands Of Migrants Into US Without Any Plan To Return Them Home

July 8, 2025
Rubio Announces Release of American Former Ballerina From Russian Prison

Report: Imposter Poses as Rubio Using AI

July 8, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Tuesday, July 8, 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 at 6:43 pm
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