Fed Chairman Says Trump’s War on Immigrants Threatens Economic Growth

Written by SK Ashby

Trump is already angry at Federal Reserve Chairman Jerome Powell because Trump's trade war and unnecessary fiscal stimulus (the tax cuts) have increased inflation and compelled the Fed to raise interest rates, but I'm sure Trump will be even more angry if he sees this report from Bloomberg.

Responding to a letter from Senator Catherine Cortez Masto (D-NV) asking Powell if he agrees with Minneapolis Fed President Neel Kashkari who said immigration is a "free lunch," Powell pointed out that we'll face economic stagnation without an influx of new labor.

Powell told Cortez Masto that immigration accounts for about one-half of population growth annually, and that it directly affects gains in the labor force and thus economic increases.

“Thus, from an economic growth standpoint, reduced immigration would result in lower population growth and thus, all else equal, slower trend economic growth,” Powell wrote in the Aug. 29 correspondence that was obtained by Bloomberg News through a Freedom of Information Act request.

Powell didn't put it this way, but what he's saying is there just aren't enough white people to go around. Not now and especially not in the future.

It's important to note that none of this matters to Trump or the men behind Trump who are actually putting pen to paper and writing his anti-immigration policies. They don't care about the long-term economic health of the nation. Their war on brown people is not an economic policy; it's a racist policy. They're cracking down on immigration because they're white supremacists.

It's not about immigrants taking our jobs or depressing wages; it's about white nationalists who believe "white genocide" is a real thing when the truth is white people are killing themselves in droves; either literally or figuratively by voting for politicians who want them dead.

It's going to be even more difficult to repair the damage done by Trump than it was to repair the damage done by Bush.