
Episode 4389: Fed Powell Addresses The Nation On Tariffs ...
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Rick Santelli
Harris and the Biden administration was the intrusion corporations, they don't have an allegiance to the U.S. that's, that's the heart of the problem in Trump's mind is the elite multinational corporations know no borders. The money goes everywhere. And the free trade, global globalism has been in reverse, really, since COVID The problem is, is that the direction of that reversal was wrong. And maybe if Trump had a second term instead of Biden and instead of Vietnam and some of the alternate places that were extracted from China during COVID maybe it would have come to the U.S. maybe that would have helped. Andrew's question of how long it's going to take for onshoring to occur. I'll tell you what, the structural issues of rejiggering trade are not going to be easy. But in the end, once again, it comes to, you know, I was doing Santelli exchanges on the end of globalism ten years ago. The handwriting has been on the wall. Ultimately, if you live in the US or you live in Europe or you live in China, ultimately what goes on at home is very important. And after World War II, when the United States was way up here economically and everybody else was in melting ruins, we created this structure. And the structure is outlived its usefulness in many ways. And today, to try to tweak with the richest shutdown for maintenance is not going to be. Wait, wait, what did you say?
Steve Bannon
Because we're the richest country in the.
Jack Posobiec
World, we came out of the pandemic faster.
Steve Bannon
We had better growth. We are the most dynamic economy in the world.
Rick Santelli
Money. And much of that, and much of that money we spent was in debt. The debt was financed by foreign. Some of that they enabled us, just like the Fed enabled us. We with those capital accounts. I'm saying there is a dark side to the trade deficits in a different way, I think, than Trump looks at it. I look at it like it does. It does underscore and underpin a type of financial behavior that in the long term hurts us.
Steve Bannon
I'm confused, because if people make a.
Rick Santelli
Decision to buy something from abroad, isn't.
Steve Bannon
That part of the freedom and independence people have?
Rick Santelli
They don't make decision. They make the decision to buy what's cheap. And that's the problem. So it's not artificially cheap anymore. Every day Kmart, low prices had a dark side for the American economy.
Danielle D'Souza
No, but, but here's my question, Rick.
Jerome Powell
What about all of the, the folks.
Danielle D'Souza
In China and India and other places who've been buying Nikes, who've been buying Starbucks, who've been going to McDonald's.
Rick Santelli
Okay, why does Nike sell a pair of gym shoes for 200 bucks and they have to make it in China where they pay people peanuts. It's, it doesn't make sense. From the get go, Chinese workers, Rick, now you hear, now you care about the Chinese people that make more money. We have benefits, we cost more to make stuff. But there's a reason for that.
Steve Bannon
Because people bring their. They buy something cheap and they have.
Jack Posobiec
Money to buy other things. That's how it works, Rick, over time.
Rick Santelli
You want us to go back to the horse and buggy?
Steve Bannon
Really?
Rick Santelli
That's why Trump's reversing it, because we have $37 trillion worth of how it works. If we didn't have trade surpluses and we didn't have a fed that left rates at zero, maybe the pain of overspending would hit home much sooner.
Danielle D'Souza
Rick, if you don't have that, but if you don't have the trade deficit, then you won't and everything gets manufactured here. You're not going to collect the revenue that you want. I think from those tariffs, I think.
Rick Santelli
Trump would be happy with that.
Steve Bannon
I think the people who used to talk about economic freedom are suddenly talking about something a little different that, that.
Rick Santelli
There was a time when I got freedom.
Steve Bannon
I totally. Okay, thanks, guys. Santelli's brilliant because he's worked in the Chicago pits and he understands basic economics and human behavior. The other two guys kind of a clown show. But we've avoided the trade deficit and avoided talking about the trade deficit. The elites don't want to talk about it in the, in the first term. When you would talk about this, they go, oh, money's fungible. That's a big thing. Money's fungible. What does that even mean? The trade defense is not fungible. The reason they never talk about. They don't want to talk about because that exposes the con and the scam and President Trump's stump on true social. What's the thing he's got with what's the thing he's got with telling China that you overplayed it because China came back and punched back at 34%. You know, all this issue with Trump being too soft on China and I got would get all this grief behind the scenes. Oh, Bannon, you anti ccp, you and the new federal state of China and you and the committee on the present danger China. And you've got this and you got that. And Rogan in the book called you guys the super hawks. You didn't even believe in the Chinese Communist Party. And Trump's rubbing up on China and saying how much he loves China. President Trump respects President Xi, says that he respects the Chinese people as we do. Don't respect the Chinese Communist Party. Right. We're not fans of Xi, but President Trump runs his own deal. But you talk about the biggest situation of decoupling. He signed an executive order about it. He's talked about the three island chains and send Pete Hexith over there to reinforce what our strategy is going to be. And when Xi's at his weakest moment, when they're trying to shovel as much coal into the furnace as possible to keep the whole, the whole three card money that is the Chinese economy from collapsing on them, Trump and their complete export driven country. And those exports have to come to the United States. High value added. What does he do? He puts a 34% tariff on BA Boom. They're in shock. They're in shock. That's Economic Warfare 101. And they came back and it was blistering talk in a 34%. And they let the world know, hey, we'll see and maybe we'll match and maybe even we'll raise it. That's fine. We ought to add on top of that with President Trump, the executive order, let's enforce it. As we've been saying on the Committee on Present Danger for years, let's cut off the capital. You cut off the capital and you cut off the access to technology. You walk into Sequoia Capital with a bunch of search warrants, right? And maybe a couple, three indictments from a grand jury to stop shipping our technology over to their military. You do that and maybe you put Neil Shen, you put him in handcuffs. You do that Chinese and you keep the 34 tariff. Chinese Communist Party not going to be around all that long. They need American capital, they need American technology to survive and they need a free dumping ground of their product in the United States of America. Now Walmart, you're so powerful. You're so big and powerful. And the Waltons are so, you know, it made so much money. Sam Walton would know what to do. He wouldn't pass that on to the American working men and women that he had basically understood his entire life. You know, running, running those little retail stores, little shops down in Arkansas. You would use your strength to hammer the Chinese and say, hey, you got to figure it out. Maybe, in fact some stuff ought to be made here. Maybe stuff's going to come back. Same with Amazon. Look at these countries. These countries are part of it. And look, the American consumer did it. That's your full right. But people are waking up to what the game is. By bringing in the Chinese product, you've got it mainstream. By bringing the Chinese product, you've got it. The basic foundational elements of us as an industrial power. And last night saying, oh, well, there's, you know, $2 trillion. No, no, no, that's all assembly work. We're talking about high value added manufacturing jobs. Do we have Howard Lutnick and the robots? I don't have that yet on Jesse Walters. Okay, Jesse Walters, Howard Lutnick, robots, industrial. Just let's pull it the. We'll get it eventually. I promise we're going to get it. And this is what Howard Lutnick said last night. And Howard I actually think has been doing a pretty good job on the terrorists. He's back a little bit on message. Besant has been doing great. And of course, all they're doing in process, they're going back. And Scott Besant never said anything about terrorists entire life. Howard Lutton never say anything about his entire life. Nobody said anything about this their entire lives. Well, first off, that doesn't matter. They're part of Trump's administration. This is Trump's idea. And they're 100% on board. I think Besson does a great job, obviously, Peter Navarro does a great job. I think Howard Lutnick at Commerce doing a pretty good job. Now he a little bit got out of harness last night and said, hey, we're going to, you know, bring back, you know, all the robots and have robot jobs. There is going to be some, look, a lot of this is going to be advanced manufacturing. It shouldn't be lost on you. On the 500 billion that Apple's talking about, I think there's 20,000 jobs that would normally not equate to the 500 billion dollar investment. Now, I don't know if that's all the way through at the plants, but Apple right now think 90% of the iPhones are made in China, 80% of the iPads or some number. The percentages are extremely high. And they've already said that they're going to relocate manufacturing here to the United States. And President Trump came out today again and reiterated on his first, I think the first true social he put out today, he said what he said, hey, I am locked in on this policy for these investors over there saying, I swear I'm locked in on these policies. And that's why these big corporations, it's one thing for These private equity funds or the Saudi sovereign wealth fund or these guys, which I'm not a fan of these guys putting money in the United States. But they're looking for investment opportunities. It shows you that they're hungry to put money here. But that's different than these corporations. When these top corporations the world put big dollars in back of plant and equipment, they need stability. And yes, you need to also build the ecosystem. Can we play? This is Jesse Waters and Howard Ludnick last night. Let's go and play it. We're not going to have all factories.
Danielle D'Souza
Come back like clothing manufacturing. That's tough to bring back. But what kind of manufacturing are you talking about returning?
Steve Bannon
Well, don't, you can't just give that away. See, what's going to happen is robotics.
Danielle D'Souza
Are going to replace the cheap labor that we've seen all across the world. I mean, think of what our factories did. They went to the cheapest labor in.
Rick Santelli
The whole world, slave labor, cheap labor.
Danielle D'Souza
The worst environmental conditions, polluting the heck out of it.
Rick Santelli
And then we bring back those cheap.
Danielle D'Souza
Products here and we feel good about ourselves because we don't see the pain.
Steve Bannon
Okay, yeah, I think over at Commerce Comms department, let's get a little. Sharpen that, let's sharpen that argument. I'm not sure I buy Jesse's first, first assertion. I think you can, and he can do it without robotics. I think you can smartly bring it back and entrepreneurs in this country are going to bring it back. This is why we were just the other day. The other part going on here is President Trump's got entire Justice Department looking at breaking up the big monopolies. The argument these, the big, the, the, the corporatists and the oligarchs trying to make. Oh, with China's so ahead of us on so many things, we have to have national champions like the French. You have to have essentially monopolistic power. No, we're an entrepreneur company a country. This is what entrepreneurs built this country. It's in the spirit of us to get your side hustle to become your main hustle. That's what we need to do here. We need, we need, we need thousands of little companies starting up. We need access to capital, those little companies. We need to break up these big companies and let this, and let this, and let it roll, let it bloom and it's going to happen. Is this protectionist? You call it what you want. It's a reordering of the world's economic order. And you should note the people that are who's raising hell the most? The Financial Times in London, the Wall Street Journal, the New York Times, the Washington Post, you know, cnbc, Bloomberg tv. Are those your buddies have those organs of information, have they ever been on your side? Are they the ones, you know, what's unifying them? They're the ones that took Trump most seriously when he first came on the scene in 14 and 15, didn't they? They're the ones that really took time to think through what President Trump was talking about and really got away from the personal attacks. They really last 10 years, those organizations I just named, they have gotten their hands dirty in saying exactly what has Trump been saying and his vision for American, American workers? And why is it at the rallies that these people that are working class people come out? They're the ones that wrote all the articles that didn't mock and ridicule President Trump's followers. They didn't mock and ridicule you, they dismissed you. They stole an election from you and they thought you would go away. Well, guess what? You didn't go away. In April 2, when we eventually get around to a national holiday in remembrance of President Trump, it won't be his birthday, it'll be April 2nd, Liberation Day, which he told the whole world, hey, this is the way it's going to be. Have you heard? Are they up for the class shot? Are they up for the kindergarten, third grade shot up on Capitol? I haven't seen that before. They left in Johnson the Polly Pockets. Get him up there and get a class shot with, you know, we support reciprocal terrorists reciprocity. You know, little things are from little cardboard reciprocity. I missed that short break going to Harrisburg next. You don't go out and buy a life jacket when the boat is already sinking. And you don't buy gold when the economy has already collapsed. Clearly others are heeding this advice as gold hit an all time high the first part of 2025 multiple times. It's not too late for you. The company I trust to help you diversify into physical gold is Birch Gold, the company I buy my gold from. Birch Gold specializes in helping you convert an existing IRA or 401k into a tax sheltered IRA and physical gold for no money out of pocket. Just listen to this five star review, quote knowledgeable, helpful, non pressure, end quote. That's what you get with Burch Gold and that's why I've endorsed them for so long. Get your free info kit on gold by texting the word Bannon B A N N O N to 989-898 there's no obligation, just useful information. With an A plus rating from the Better Business Bureau and countless five star reviews. Text Bannon Bannon O N to 989898 and let the experts at Birchgold help you secure your financial future today with gold.
Rick Santelli
Here's your host, Stephen K. Banner.
Steve Bannon
Make sure you understand Birch gold. You have to understand the movements in gold. Price of gold is only relevant for the day that you notice you need the pattern recognition recognition birchgold.com/bannon or slash. Yeah slash Bannon on this one. Talk to Philip Patrick and the team. Understand the forces geopolitical, geo, economic, geostrategic. Got enough geos in there. Understand it. It'll make your financial life better, your personal life better, your political life. You'll have more intelligence in going about things for 25 years. This is not me the guy the other day on Bloomberg. 25 years. Colts outperformed the S&P 500. Does that tell you something about how we have to rejuvenate this economy? I think that may be linked to the 25 trillion dollar trade deficit and the debt. Just saying. Crowding out of capital by federal debt and spending and trade deficits. I think those two is reason this S&P 500 ain't outperform gold. Just throwing it out there for discussion go to birchgold.com also a field of greens. My super organic. My organic superfood every day I do it with with the with Warpath coffee. But I do my organic superfood first. Feel great and I get an energy boost. Go to fieldofgreens.com Put in Bannon. You get a big discount. Do it today. Get on site and check it all out. Healthy, healthy, healthy. Not the stuff you see advertised on TV that is not organic. Here you want to be organic from Brickhouse Field of greens. Love my field of greens. Jack Posobic Brother, why are you not in the studio today? There's so much going on national in loomers taking out National Security Council guys. The NSA quits last night. Cyber Command quits last night. Deputies quitting last night or not quit I guess getting fired. Everything going on in the intel community. What are you in Harrisburg for, sir?
Danielle D'Souza
See I'm here manning the ramparts in Harrisburg, Pennsylvania because this is where the real action is taking place for the defense of the Republic. This is where we won in 2024 was going through Harrisburg. This was the road for the Republic. These are the areas Harrisburg and then west of here. This is exactly the spot where the people who are going to benefit from Trump's great deal and these new tariffs and the geostrategic reconfiguration of the global economy. So that's why I'm here at the Pennsylvania Leadership Conference. This is a gathering of the deplorables all across Pennsylvania. You've got national groups, you've got local groups from Tea Party types to Christians, small government. We got the Commonwealth Foundation. We've got everybody here, Steve, and we've even got a couple of posse members that are here. This is action oriented because we're building out the infrastructure for 2026 and beyond.
Steve Bannon
Is the purpose today to make sure that, that the 2024 massive victory in Pennsylvania is not a one off event? That in a midterm, what's. We make sure that what happened the other day in Wisconsin does not happen in Pennsylvania because that happens in Pennsylvania. On the first week of January, 2027, Donald Trump, there'll be a move to impeach Donald Trump by Hakeem Jeffries. Correct?
Danielle D'Souza
Correct. So we're not going to let that happen here in Pennsylvania. I couldn't let that happen here in Pennsylvania. We got Kev here. Kev Poso is here. So the Poso bros are back in Pennsylvania. We're here to make sure that Pennsylvania stands strong going through the midterms. Josh Shapiro, little Josh, you know, he's right across the river here over at the governor's mansion. So we're going to make sure that he knows that we're around too. And he's. Let's just say that he's a topic of discussion here on the table.
Steve Bannon
Hold it, hang on. I thought Shapiro put out a statewide decree that both of the Poso brothers can't be in the state, can't be in the Commonwealth of Pennsylvania at the same time.
Danielle D'Souza
Hey, enforce it, Joshi. We're right here. Come on, Come on.
Steve Bannon
Posto. So what, you're gonna speak later today? What time do you speak? We want to stream this.
Danielle D'Souza
So I'll be, I'll be doing my show live from here at 2pm and then we two to three and then we speak right at four. I'm going to be on a panel with Cliff Maloney as well as Dr. Steve Turley, another PA guy. We're all talking all Pennsylvania and how new media is infused with the grassroots networks to build just the same way the War Room posse did in 2024. And just like these War Room Posse members here did in 2024 and are even doing now in local elections this.
Steve Bannon
Year, so this is great. Everybody's coming together. The Human Events Daily's live. You're then we're going to stream your 4:00 panel and then hopefully follow up at 5:00. I got to ask you a question on geo strategy, sir, before I let you go. The head of the Communist Party, the General secretary of the Communist Party in Vietnam, because that's still who runs the deal. Although the biggest capitalist in the world has already reached out to President Trump, Jack, and said, and they're near the top of the list. I think Cambodia is the top and I think Vietnam, because so much stuff transferred from China during the pandemic to Cambodia, Vietnam and Southeast Asia, as you know very well. He essentially contacted President Trump and said, okay, we surrender, we want to go to zero. We want to do as fast as possible. How do we do that, Mr. President? And he said, congratulations. Hey, this is the first guy I'm going to meet with because he reached out to quick as and said, I see what we're doing. I didn't fully understand it. We're going to zero. How big a deal is that? And putting it back up in the grill of all these, all these people saying it's the end of the world.
Danielle D'Souza
Well, Steve, this, this is exactly the point of the, the art of the deal. So the art of the great deal is this. We're making a deal for the American people. We're putting our American workers first, we're putting the pizza people of Pennsylvania first, like we're doing here in Harrisburg, Pennsylvania today. So Vietnam and Cambodia and Thailand, this is all a message, by the way, because what are they directly south of? And they have no love lost for the Chinese, The Chinese Communist Party, which is just to their north, the Chinese that ruled Vietnam for over a thousand years of their history, so they understand that this is a message going forward. And President Trump has said, hey, wait a minute, whoa, whoa, this is not a negotiating tactic, this is policy. And my policies will not change. In fact, what's going to change is the world.
Steve Bannon
And it's already started, Jack, about these judges removing people. Have we taken our off the ball of this critical situation in South Korea where a conservative was just taken out by the Chinese Communist Party in essentially a coup d'etat last night, and now they're gonna have another election in 60 days. But the conservative. And like I said, this guy, not Ronald Reagan, but he was duly elected. He's been taken out by the ccp. Do you think we're enough on top? Defense Department, State Department, National Security councils on top of this deal.
Danielle D'Souza
Well, I mean this is a situation in South Korea just like everywhere in the Pacific Rim and in East Asia, the Indo Pacific, Pacific, where we need to stand strong with our allies and understand that the Chinese influence operations, the CCP operations are already deeply enmeshed in the politics of South Korea. They're enmeshed in the politics of Japan, they're enmeshed in the politics of Australia. This is all across the Pacific because they understand that if they can control the Pacific, control that, that first island chain which of course you talk about all the time, Taiwan, Japan, the home islands there, then that gives them ability to push out to the second island chain, Guam, then eventually the third, which is Hawaii. So we need to make sure that our allies are standing strong and understanding that you need this populist, nationalist, pro America front around the world. And again, by the way, what we're not talking about is this military conquest style of the Bush administration, of the Romney types, of the McConnell types. No, what we're talking about is working with our allies, have them shoulder the burden, but also keeping our eye on the ball. As the CCP pushes out.
Steve Bannon
Last night what the individual, the general that controls both NSA and Cyber Command, which I have been a strong advocate, they should be broken up. You should have a combatant commander in nsa, but him and his deputy who are holdovers, were, were let go. Give me some insight on that. You're an intel guy, that, that's a huge deal. What's going to happen there? Are they going to break up Cyber Command from, from nsa?
Danielle D'Souza
Well, I don't have any direct insight on that myself, but I certainly agree with you. Cyber Command should be its own combatant command. We need, we need offensive cyber operations. Okay, nsa, that's your backbone. We understand the properties of nsa. Everybody in the whole world knows what the NSA does. But you need a combatant command the same way we just talked about the Indo Paycom Command, Indo Pacific Civic command, you have Africom, you have Centcom, etc. You need a cyber command that goes across the branches of the military, across the ic, that can pull entities up wherever they may be. Perhaps they're space force entities that can help out with Cyber Command. A lot of the, those space operations are cyber based. These anti satellite ops and things like this, the communications operations. So you really need to think of cyber from a whole of government perspective and keeping it in scope, ensconced within NSA actually hinders the ability to do that. Now as far as the home, you know These holdovers from the Biden administration, look, they have to go. And I had had some reporting back in November about the deputy at the NSA and about how she was already working to undermine President Trump's national security team. Look, we remember the problem of the holdovers from 2017. This is where Russiagate started. This is where the first impeachment started in 2019. It all began with holdovers. And that's why my message has always been it has to clean house across the IC and across the board in order to get the Trump's agenda across.
Steve Bannon
Yeah, and these are serious. NSA is the backbone. I tell you what, Jack, we're going to let you, we're going to get. Can you, we're going to take a break. Can we get hooked up or can you pass over. You want to do the interview with the Warren posse members running for, running for school boards. Because we want to get them up in the next segment.
Danielle D'Souza
Get them up. Yeah, they can hide. You guys can hack for the next segment, right?
Steve Bannon
Certainly.
Danielle D'Souza
Oh, these are posse members, Steve. They live for this stuff.
Steve Bannon
Okay, we're gonna take, we're gonna take a short commercial break. Jack will be back to you in a second. Like I said today, what's, what's the price? What is the price of gold? How are we doing the jowl, by the way? The Dow kind of backed off a bit. Dropped further backed off. Vietnam's already surrendered. The president, Vietnam. The head of the general secretary of the Communist Party came back to President Trump. President Trump just reported out on True social. You don't see. That's not leading the cnbc, that's not leading the Financial Times of London. They're not talking about that in. Vietnam's one of the ones that's the biggest problem. Now you say talk about, hey, you don't have the. By the way, we're going to get, I think a live feed from the Federal Reserve here. In a moment, they're going to make some remarks. So we'll take a short commercial break. Get to Birch Gold. Take your phone out. Bannon B A N N O N at 989-898. The Ultimate Guide to investing in gold and precious metals in the era of Trump. This thing is very accessible. What I mean by that, it takes complicated ideas and makes them easy to understand. That's especially a Birch Gold and the war room to make sure you understand the fully the forces that drive the value of gold, which is a store of value in a hedge against times of financial turbulence. Back in a moment. How well do you sleep at night. Real peace of mind comes from knowing your family is prepared for anything. My Patriot Supply, America's most trusted name in emergency preparedness, is offering a time limited discount on the bestselling three Month Emergency Food Kit. Now this is the basic the three Month Emergency Food Kit. This isn't your typical survival food. Each kit provides over 2000 calories and 100% of the recommended value of 12 essential vitamins and minerals daily for 90 days with delicious meals and extras including chicken, beef, fruits and veggies. We're talking quality meals that last up to 25 years in storage and still taste like home cooked. The pandemic taught us how quickly store shelves can empty. Don't wait for the next crisis. Your three Month Emergency Food Kit includes free shipping, a disaster replacement warranty and 24.7us based customer support. This special discount is available for a limited time only. Visit my patriotsupply.com now to secure your family's future with a $100 discount. If you order by 3pm they'll ship your order within the same day so you have peace of mind right away. Get my patriotsupply.com by going to my patriotsupply.com do it. Do it today. Use your agency. Action. Action. Action. What if he had the brightest mind in the War Room delivering critical financial research every month? Steve Bannon here. War Room listeners know Jim Rickards. I love this guy. He's our wise man. A former CIA, Pentagon and White House advisor with an unmatched grasp of geopolitics and capital markets, Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself. Now he's issuing a dire warning about April 11, a moment that could define Trump's presidency and your financial future. His latest book, MoneyGPT, exposes how AI is setting the stage for financial chaos, bank runs at lightning speeds, algorithm driven crashes, and even threats to national security. Right now, War Room members get a free copy of MoneyGPT when they sign up for Strategic Intelligence. This is Jim's flagship financial newsletter, Strategic Intelligence. I read it. You should read it. Time is running out. Go to Rickards War Room.com that's all one word. Rickards War Room Rickards with an S. Go now and claim your free book. That's rickardswarroom.com do it today.
Jerome Powell
And it's also possible that the effects could be more persistent. Avoiding that outcome would depend on keeping longer term inflation expectations well anchored on the size of the effects and on how long it takes for them to pass through fully to prices. Our obligation is to keep longer run longer term inflation expectations well anchored and to make certain that a one time increase in the price level does not become an ongoing inflation problem. We'll continue to carefully monitor the incoming data, the evolving outlook and the balance of risks. We're well positioned to wait for greater clarity before considering any adjustments to our policy stance. It is too soon to say what will be the appropriate path for monetary policy. We understand the benefits of a solid economy where workers can find jobs and inflation is low and predictable. We also understand that elevated levels of unemployment or inflation can be damaging and painful for communities, families and businesses. That is why we at the Fed will continue to do everything we can to achieve our maximum employment and price stability goals. Thank you and I look forward to your questions.
Unknown Journalist
Most importantly, thank you for being here. This feels like quite a moment to be speaking with you and I want to thank you for your time. He's got it. I want to thank you for being here and thank you for taking the time to speak with this group of business journalists. Also like to give a special thanks to Heather Wong of the Washington Post who helped make this event possible. So for starters, sir, how's your week been?
Jerome Powell
Just fine, thank you.
Unknown Journalist
Care to elaborate?
Jerome Powell
So far so good.
Steve Bannon
Chair Powell?
Unknown Journalist
Yes, thank you.
Steve Bannon
This is the Federal Reserve. This is a question answer with Powell today.
Unknown Journalist
Very strong economy. You characterized inflation is coming down employment as being very strong still. However, President Trump earlier this week when asked about the market volatility we've been seeing, said the volatility was, quote, to be expected. This is a patient that was very sick. We inherited a terrible economy. A lot of voters did and do agree with that assessment, or at least in part. I'm wondering how you would respond to that assessment and the disconnect between the story of the data and the way a lot of people are feeling about the economy.
Jerome Powell
Sure. So let me just be clear at the start. I make it a practice not to respond to any elected officials comments. So I don't want to be seen to be doing that. It's just not appropriate for me. But the situation I think is this and people when they're surveyed, they are unhappy about the economy. That seems to largely reflect reflect the increase in the price level that happened when inflation was high. 20, 21, 22 and 23 largely. Inflation is now back down to much more normal levels. Unemployment is low. The economy's been growing, but people are still experiencing that high price level. In other words, prices don't go down, they know they're paying much more for the basic necessities of life. And they're right that they are, and they're not happy about it, and they're right not to be happy about it. So I think that accounts for the negative sentiment. We, of course, we're looking at inflation, which is the change in prices, and we're seeing that that has come down quite a bit and that, you know, unemployment is actually low. It's sort of very close to measures of maximum employment and the economy is growing. So all those statistics are good. But, you know, the price increases of the past few years are weighing on people's budgets.
Unknown Journalist
So I'm from Milwaukee and I've been talking to business leaders, executives and consumers in our community region for the last few weeks, mostly before this week's news chairman. They're troubled and they're nervous. One business owner told me if there's a hint of a recession, we're cooked. And he asked me to share that with you. What's your response?
Jerome Powell
So I guess I would say let's start with the fact that the incoming data, right through this morning's employment report, which admittedly is from roughly a month ago, the week of March 12, they took the data and still shows a solid economy. Unemployment is still low. I understand the uncertainty that's weighing on people you ask about a recession. We don't actually, we don't make a probability forecast of how likely it is for there to be a recession. But many outside forecasters do, and many of them have raised the likelihood, albeit from very low levels. It's not, it's not, it's not something that anybody now is forecasting or some people are starting to. So I can't, there's not much more I can say about that. I realize that the uncertainty is high. And, you know, what we've learned is that the tariffs are higher than anticipated, higher than almost all forecasters predicted. We're just, we still don't know where that comes to rest, though, and we're just going to have to see that through.
Unknown Journalist
At a congressional hearing last year, one of the US Representatives said that you were pretty boring, and you thanked him and said that you consider that a very high accomplishment. And in fact, I feel like it's one of the roles of the Federal Reserve, especially since the housing crisis, to be kind of a ballast, especially in the face of the volatility of the markets and the dramatics that you can experience with the economy very steady, no surprises, very reliable. In a moment like this, which also has a lot of drama and unpredictability, but it is not necessarily from an economic crisis. It's, it's by design, it's political. How do you see your role in this moment?
Jerome Powell
So I think all of the values that you touched on are in fact values that, that we try to live by. You know, we're, we're driven by, you know, analysis and careful thought and discussion and debate and the merits of things where we try to stay as far as we can from the political process. We don't look at political cycles or things like that. So I think people expect that from us. They expect us to tell the truth, and that's what we're going to do. But at the same time, we're not part of, we don't want to be part of the broader political discussion about the wisdom of policies that are not assigned to us. We're not responsible for trade policy, immigration policy, fiscal policy, so we don't comment on those. Decisions are made by others. And what we do is we use our tools to try to achieve the goals that Congress assigned us, which is maximum employment and price stability. So I like to think that over time, we are a source of calm, rational analysis and also of stability. That's really what the business that we're in is, providing financial and macroeconomic stability to the public. That's really our purpose.
Unknown Journalist
How can, how can businesses and individuals and the Fed make plans for the future when so much is being dictated by the actions of a single person? And do you see yourself as the consoler in chief on economic matters?
Jerome Powell
No, I think. Take a step back. What's happening is, as I mentioned, the new administration is making, you know, significant policy changes, changes in trade, immigration, fiscal policy and regulation. And this is, this is. We're still just a couple of months into the administration and that process will take place. And at a certain point, the new policies will be on the table. They will be having the effects they're going to have on the economy, and uncertainty will decline. Right now there's a lot of uncertainty about where all that's going to sort out the forms it will take and what economic effects will be. If you fast forward a year from now, the uncertainty should be much lower. The actual effects of the policies should then be pretty manifest and clear. So I think I understand why it just is highly uncertain both what the policies will turn out to be, exactly what they'll turn out to be, and also what their effects will be in the near term. We just have to go through that process. And, you know, it is just kind of a manifestation of our election cycle and, and a new administration coming in with new policies.
Unknown Journalist
I mean, given all of the change happening and the fact that we are in a period where things have not settled in yet and that the Federal Reserve and you as chair are very projection data driven, policy driven, how do you handle a moment like now? I mean, can you tweak your plans and projections? Do you just kind of reset them.
Jerome Powell
So, you know, what we've had since in the last few months from the staff has been a placeholder. Rather, they wouldn't call it a forecast because it's so uncertain. They call it a placeholder. And that's kind of how we've been thinking about it. So it's a good time to take a step back and let things clarify. That's why it's just too soon to say what the appropriate monetary policy response will be to, to these new policies. It is just too soon to say. We can't say with any confidence today. So that's what we're doing. We've taken a step back and we're watching to see what the policies turn out to be and the ways in which they will affect the economy and then we'll be able to act. Fortunately, our policy stance is in a good place for us to do that. You know, we're probably modestly moderately restrictive, let's say. So we're not, it's not really tight policy, but it's, it's. Which is appropriate since inflation is a bit above target. So we think we're well positioned to address whatever may come. And in the meantime, I'd say we're, you know, we're waiting this to waiting for greater clarity before we consider adjustments.
Unknown Journalist
This of sorts of. In Wisconsin has told me that they can't make their plans. They want to expand, they want to build a new facility, they want to hire or do whatever the future calls for. They say we're trying to look around the corner. We're not even sure where the corner is and we're not even sure what's around the corner. Sounds like they're in the same position.
Jerome Powell
As you are a little bit. No, we hear the same thing. Of course, we have an incredible network of contacts with businesses and also universities, nonprofits, all different sectors, through the Reserve Banks and also through the Board of Governors, and that's what we hear. But again, it's a process. We're going through it. And, you know, I think we will know when we know what the policies are Exactly. And what their implications will be for the economy. That will all become clear. And I think that'll be a time when people can make decisions. In the meantime, though, I get it. We're hearing that a lot from people and we are kind of in the same place, which is waiting for clarity about what our policy paths should, should.
Unknown Journalist
Be maybe months away.
Jerome Powell
We'll have to see.
Steve Bannon
Okay. As you can tell, the reporter from the, from the Milwaukee papers continue to try. I mean, he's down, he's got, he's got the dumps, he's got the blues. I thought, I thought Powell did pretty well. Look, I'm an in the Fed guy, but you know, I'm not a fan of Powell's. But I thought, you know, it was a tough day to come out there though. He's pretty even handed. Said, hey, President Trump put the balls in, have to see markets. One thing the market's looking for is powder. Walk in, say I'm gonna give you more easy money, grab another big old cut. Today that didn't happen. So the market dropped a couple hundred points. Who cares? Markets rise and markets fall. It's the trend that you want to see and the trend here you got to stop, which they never want to talk about is a $25 trillion Stephanie rule. Get, get on your show tonight some working class people and some union people and ask them about the $25 trillion deficit, where that trade deficit where came from shipping all the high value added manufacturing jobs over to China. And then we had to buy the finished products based upon borrowed money, some of which the Chinese Communist Party helped us finance. Let's go back to Jack Bosobic. Jack up in Harris, once again tell the audience what Harrisburg is about. Why are you guys there? For a two day conference on a beautiful spring weekend and introduce our guest.
Danielle D'Souza
Well, Steve, we're here to send a message to little Josh Shapiro that we're here, that Pennsylvania is actually a red state, that Pennsylvania is Trump country. And we're building out the infrastructure to make sure that Pennsylvania stays that way. Because Pennsylvanians understand the importance of rebuilding and actually revitalizing our towns and our western and our industrial capacity that have been totally sold overseas by people like his party and people like the people that have helped him. And we've got some great grassroots activists here today. Members of the posse, tell folks where, where you're from and what you're up to doing.
Sandra Gonzalez
Sandra Gonzalez, York County, Pennsylvania. Steve, I'm running for school board and I want to thank you for firing us up and When I could not find a good candidate to run for school board, I stepped up because if we don't do it, Steve, who's going to? And I just want to say, you know, I want to thank the president for just hammering it every day. Every day. I was just telling Jack, it's like the Democrats and the liberals are punch drunk and like before they even know the blow that they just took, he's throwing another blow. And we love it, and we love that you guys are on it. We love to see Brian Glenn, we love to see Natalie over there. We love seeing, seeing Jack over there on media row. And you guys are bringing it home. And every day we get up and we turn on Rav and we are so filled with hope and with fight and we are in it to win it.
Danielle D'Souza
Wow. You want to go off after that?
Steve Bannon
All right, no, no, no, that's. Hang on. I want to ask you a question. When you look through the candidates, what are the issues that you finally said? I've had enough. You know, I'm a war and posse member. I'm manning the firewalls. I'm making my calls, I'm sending my text messages, I'm helping candidates. What was it that you said finally, hey, I gotta get in and do this.
Danielle D'Souza
Make the switch to get up and do it yourself.
Sandra Gonzalez
So I was trying to convince one of the other mothers in one of the other regions to run. And it's like the Lord put in my spirit. David never planned on fighting Goliath. He showed up to bring provisions to his brothers and check on him. He fought Goliath because no one else would. And I was unable to convince her to run. But as I was saying this to her, it's like the Lord dropped in my spirit. What about you? And you know when God calls you, he calls you up to the front lines, you go, because if God be for us, who can be against us? We are voting this week to have sex based distinction in spite sports. Heidi Thomas, policy of chair at the West Shore School District is fighting to kick the boys out of the girls sports. And we need the posse to show up at the West Shore School District board meeting Thursday night at our administration building at 6:30 and help us pull this across the finish line. If we don't get people to show up in that room, the liberals show up 50 at a time and there's four of us conservatives in the room. Where is the posse? Where are the Americans that will stand up and fight for our kids? So that's what I decided to do to fight to help Heidi Thomas pull across the finish line to get rid of the gender neutral bathrooms and the sex distinction in sports at the West Shore School District.
Danielle D'Souza
And, and Josh Shapiro is pushing that stuff all across the state, Steve. All across the state.
Steve Bannon
Amazing. Can we get social media? Can we, we want to follow this. We want to do a run up to this school board meeting next week. Where do we go?
Sandra Gonzalez
Sandra Gonzalez for school board Amen on Facebook. That's my Facebook.
Danielle D'Souza
Steve. We got, if we have a quick second, we got another member of the phase right here.
Steve Bannon
Yep, sure.
Therese Holland
Hi, I'm Therese Holland and I'm the executive director for Citizens alliance in Pennsylvania and we're the home of Pa Chase. As you know, we knocked 510,000 doors for President Trump in the election. And right now we're focusing on judge of elections in Pennsylvania. A lot of these positions go unfilled and we need folks to step up because that's the first line of defense in a safe election.
Danielle D'Souza
And this, and this is part of the precinct project.
Therese Holland
It is part of. It is. So what we would like to do is please talk to us. Our website is team cap.org reach out and let's have a discussion. Let's see if you have somebody stepping up in your precinct to be a judge of election.
Danielle D'Souza
Steve, it's from the precincts up, it's from the streets up, it's building up. That's infrastructure. I said on the show the other day, this is the way Soros operates. You need to be Soros maxing. You need to learn the way they operate. And what does he do? He builds. And that's what this is all about. Steve, we're building the networks. Little networks, little networks.
Steve Bannon
Jack, ask one of when is this one of the judges, the election judges? When is the election? Or is it, is it a rolling election?
Danielle D'Souza
When is the election?
Therese Holland
May 20th is our primary. And if somebody has not already signed up and gotten their paperwork in, what we're doing is we're talking to folks about running write in campaigns because so many nobody steps up in these, in these precincts. All they need is 10 signatures to get on the ballot. If there are more than one right in, it's whoever has more signatures. But most of the time, 10 signatures will get them on the ballot in November to get them to be a Joe. This is going to build for us going out into 26 and 28 and making sure that we have a good infrastructure going forward.
Danielle D'Souza
It's all about that. 26, 28.
Steve Bannon
Where do people go Once again, where do people go to find out more information about this?
Danielle D'Souza
Right, so you go to the Pennsylvania Leadership Conference on the website. I'm of course going to be here doing my full show, 2pm and then we'll have the panel up at 4.
Steve Bannon
And Jack, hopefully get you back up at 5. Jack. Kevin Pesovic breaching a mandate by Governor Josh Shapiro. The two Paso big brothers are not supposed to be in the Commonwealth at the same time. But hey, what are we saying? It's a grassroots conference. They're going to be there. Don't know what. They don't know what Shapiro is going to do about Jack. Thank you so much, brother. So Charlie Kirk follows us at noon. Posos live from Harrisburg. Make sure everybody watches that. Then we got Gruber, you got the great Eric Bolling. Then we're back at five. We're also going to stream on our side channel the the 4 o'clock panel that Jack Posobuk is going to be on. So we'll be on that. We have a Trevor Comstock, I'm feeling healthy today, brother, because my sacred human health. Tell me what I should be taking, sir.
Trevor Comstock
Yes, thank you once again, Steve. Today I just want to discuss the importance of collagen a little bit. And most people don't realize this, but collagen is the most abundant protein in our body. It's what keeps your skin firm, your joints flexible, and your hair and nails strong. But after the age of 25, collagen production does start to slow down over time and this leads to common signs of aging like wrinkles, weaker joints, as well as digestive issues. So collagen plays a huge role in maintaining overall health. Yet unfortunately, our modern diets don't provide enough of it. So that's why supplementing with a high quality collagen source can be extremely beneficial if you are looking to support healthy aging, improve skin hydration, as well as maintain strong joints. Collagen is a pretty simple and effective way to do that. And of course, like anything, it's not a quick fix. But with consistent use, many people do notice a huge difference in the way they look and feel, which is pretty awesome. And I've been taking it myself for about six years. I've always had good results, so I can attest to that. But what's great about our collagen is that it's formulated with five different types of collagen and derived from four different sources. So you'll get types one through five collagen, which is essentially the full spectrum. So we Got you covered there. And with that said, our unique blend will do everything I just mentioned, from helping to improve healthy skin, hair, nails, all the way to joint health and gut function. And on top of that, we've just been having some great feedback from customers that have been using our product for a while. So I'm always happy to hear that and see that at least we're helping to improve people's well being a little bit. And lastly, you know, I wanted to mention too that for us as a business, you know, we do always promise, or at least our promise is to make sure that everything's produced right here in the usa. We don't outsource anything to China. We're big on quality control, so we're always syncing with our manufacturer based in the Midwest to make sure that everything's up to par. But I won't go on for too long. You can go to our website@sacredhumanhealth.com there's a ton of information. If you click on each product, you can see our exact ingredients, you can see what we put into it and kind of what it'll do for you in terms of health. Oh, also make sure you use Code war room for 10% off any one time purchase. And if you subscribe, you're locked into that 10% so you don't have to worry about putting the code in.
Steve Bannon
Today's product is collagen. We also got the grass fed beef livers. You got the immunity product. Just go to the website, check it out, it's amazing. Trevor, one more time, where do people go?
Trevor Comstock
Yeah, you go to sacredhumanhealth.com or you can just type in Sacred Human to Google and we'll pop up there as well. And then you can follow us on social media too. It's just Sacred Human.
Steve Bannon
Thank you, brother. Appreciate you. Thank you, Cameron. Trevor. Trevor Comstock, the CEO of Sacred Human. Health's part of the Maha moment movement. I've got another. President Trump just posted another he's on fire this morning. Okay, this is President Trump. This would be a perfect time for Fed Chairman Jerome Powell to cut interest rates. He's always late. He could do now change his image and quickly. Energy prices are down, interest rates are down, inflation down, even eggs are down 69% and jobs are up, all within two months. A big win for America. Cut interest rates, Jerome, and stop playing politics. See, President Trump's watching at the same time you are. That's why I wanted you guys to watch it. Powell's a little stiff, but I Guess the fed chair can be that. Okay, Mike Lindell, we're going to end Friday on a big uptick because you're going to sell some great sheets and products from the maga backing of my pillow. What do you got for us, sir?
Jack Posobiec
Well, the war room promo code is going to be known as the wholesale code. We got more cancellations. All of our kitchen accessories, the kitchen towels, you guys, we have more than just. We have over 200 and some products. These all came in as low as 999. The bath towel, kitchen towels. We have potholders, we have oven mitts, you name it. We're putting them all to the war room posse with these cancellations as low as 999 with promo code, war room wholesale prices on everything. Go to the website mypillow.com click on Steve. It's about four tiles down there. You see the 999 sale and you got the crosses there that everybody keeps asking. We have a whole bunch of new ones came in, say, 30% there and there's the pillow. This is an exclusive war room Special.
Danielle D'Souza
Special.
Jack Posobiec
1898 for the Queen, 1998 for the King with the new Giza ticking, everybody. So you guys keep. It's a win, win, win. My employees, thank you. You know, you guys get the best sleep of your life and the best products. I run into people all the time, Steve. They say, mike, I got all your products, I'm helping and everything. You know what? We have over 200 and some. And these new ones came in for the kids kitchen. Check them out. It's a war room exclusive today. So 1-800-873-1062. My employees love talking to the War Room Posse.
Steve Bannon
MyPillow.com promo code. Warren, Mike Lindell, thank you, sir. We'll see you this afternoon. From the command center of my pillow call, you may get Mike Lindell. You never know. Charlie Kirk, Jack Besobic live from Harrisburg. Gruber bowling. Back to war room at 5. We're also going to stream Posobics a panel. President Trump is down at Doral, but we're gonna have wall to wall news at 5 to 7. So much to go through on the eve of our Saturday show. My favorite of the week. Leave you with the right stuff. And Charlie Kirk, who's got health isn't just a personal issue. It's a family issue, a community issue. We're living in unpredictable times. Supply chains can break down, hospitals can get overwhelmed. And let's not even start on the natural disasters. These aren't hypotheticals. They're happening. You see it here in the war room and we all know it. The question is simply, are you ready? That's where Jace comes in. This isn't just a kit. This is a Jace case. It's a lifeline. It's a personal supply of prescribed emergency medications that puts the power back in your hands. Whether it's an unexpected illness or a global disruption of supply chains, you can act fast and protect yourself and your loved ones. This February, show them you care in a way that really matters. Be prepared. Get the Jace case today so you'll have the right meds on hand the moment you need them. Visit jacemedical.com and use the code Bannon B a n n o n at checkout for a discount on your order. That's jacemedical.com promo code Bannon. Get the Jace case and do it today.
Trevor Comstock
Human really trying to fill this gap of quality supplements and of course, the beef liver being our flagship products. For those who don't know, beef liver is loaded with highly bioavailable ingredients such as vitamin A, B12, zinc, CoQ10, etc. And because it is 100% grass fed and natural, your body is able to absorb these nutrients far better than taking any other synthetic multivitamin or any other synthetic vitamin in general. So we have some other amazing products, but if you'd like to check us out, you can go to sacredhumanhealth.com and cheers to your health.
Steve Bannon
700,000Americans every year. Yes, heart disease is the number one killer every year, year in and year out. Heart disease builds over time. Hypertension, high blood pressure, bad cholesterol, diabetes, all of it affects our heart. A healthy heart is key to being energetic. As we get older, it is never too early to take care of your heart. You see, heart disease sneaks up on us. You can start in your 30s and when this happens, you're at serious risks by the time you turn 60. If you want to take care of of your heart and those you care about, please go to war roomhealth.com that's war room health.com all one word war roomhealth.com use the code war room at checkout to save 67% of your first shipment. That's code war room at checkout to save sixty seven percent and do it again. War room health all one word war roomhealth dot com go there today. You need if you're going to be part of the posse, you need a strong heart. You need a lion's heart. How we're going to do that is with salty. Go there. Do it today. Check it out.
Summary of Episode 4389: Fed Powell Addresses The Nation On Tariffs
WarRoom.org’s “Bannon’s War Room” episode 4389, released on April 4, 2025, delves deep into the intricate dynamics of trade policies, tariffs, and their broader economic implications. Hosted by Stephen K. Bannon, the episode features a panel comprising Rick Santelli, Steve Bannon, Jack Posobiec, Danielle D'Souza, and a significant segment featuring Federal Reserve Chairman Jerome Powell.
Rick Santelli initiates the discussion by critiquing the Biden administration's approach to global corporations and trade:
“Harris and the Biden administration was the intrusion corporations, they don't have an allegiance to the U.S. that's, that's the heart of the problem in Trump's mind is the elite multinational corporations know no borders.”
[00:00]
Santelli emphasizes the challenges of reversing globalism, attributing the shift to COVID-19 disruptions and questioning the effectiveness of past leadership in addressing these issues.
Steve Bannon counters by highlighting America's economic resilience:
“Because we're the richest country in the world, we came out of the pandemic faster.”
[01:30]
He underscores the dynamic nature of the U.S. economy, suggesting that leveraging its strengths can mitigate trade deficits.
Santelli addresses the structural difficulties in reshaping trade policies:
“The structural issues of rejiggering trade are not going to be easy.”
[01:28]
He references past exchanges with Santelli on the decline of globalism, noting that domestic priorities in major economies like the U.S., Europe, and China are paramount.
Danielle D'Souza introduces the global consumer perspective, questioning why companies like Nike continue manufacturing in China despite higher costs:
“Why does Nike sell a pair of gym shoes for 200 bucks and they have to make it in China where they pay people peanuts.”
[02:33]
This highlights the tension between cost-efficiency and ethical manufacturing practices.
A heated debate ensues regarding the impact of tariffs and trade deficits. Santelli critiques the debt-financed consumption and its long-term repercussions:
“There is a dark side to the trade deficits in a different way, I think, than Trump looks at it. It does underscore and underpin a type of financial behavior that in the long term hurts us.”
[01:38]
Bannon advocates for a strategic use of tariffs as economic warfare, detailing Trump’s aggressive stance against China:
“President Trump put the balls in, have to see markets... Economic Warfare 101.”
[02:06]
He elaborates on Trump's policies, such as the 34% tariffs, positioning them as necessary measures to counteract Chinese economic strategies.
Jerome Powell takes the stage to address the nation, focusing on inflation, employment, and monetary policy:
“Our obligation is to keep longer run longer term inflation expectations well anchored and to make certain that a one time increase in the price level does not become an ongoing inflation problem.”
[30:52]
Powell highlights the Federal Reserve’s commitment to achieving maximum employment and price stability, emphasizing a data-driven approach amidst economic uncertainties.
Key Points from Powell’s Q&A:
Inflation and Employment: Powell acknowledges the decrease in inflation but notes persistent high prices affecting consumer sentiment.
“Prices don't go down, they know they're paying much more for the basic necessities of life.”
[32:50]
Recession Concerns: Addressing fears of an impending recession, Powell remains cautious, indicating that many forecasters have increased the likelihood of a recession but refrains from definitive statements.
“We don't make a probability forecast of how likely it is for there to be a recession.”
[35:11]
Monetary Policy Amid New Administration: Powell outlines the challenges of adjusting monetary policy in light of new administrative changes, stressing the need for clarity before making further adjustments.
“We’ve taken a step back and we're watching to see what the policies turn out to be...”
[39:51]
Back with the panel, Bannon critiques Powell’s cautious stance, advocating for more proactive measures:
“A big win for America. Cut interest rates, Jerome, and stop playing politics.”
[53:46]
He juxtaposes Powell’s approach with Trump’s aggressive economic strategies, suggesting that the latter’s methods would yield more substantial economic recovery and stability.
Danielle D'Souza reinforces the need for grassroots movements to sustain political victories and bolster economic policies favoring American workers.
“We're here to send a message to little Josh Shapiro that we're here, that Pennsylvania is actually a red state...”
[43:23]
The episode culminates with a reaffirmation of the need to restructure economic policies to prioritize domestic manufacturing and reduce trade deficits. The panel emphasizes the strategic use of tariffs and the importance of fostering grassroots support to sustain these economic reforms.
Steve Bannon concludes by reiterating the significance of addressing the $25 trillion trade deficit and advocating for a reordering of the global economic landscape to favor American interests.
“It's a reordering of the world's economic order.”
[43:23]
Final Thoughts:
Episode 4389 of Bannon’s War Room offers a comprehensive examination of the complexities surrounding the U.S. trade deficit, the role of tariffs, and the Federal Reserve's stance on monetary policy. Through incisive debates and expert insights, the episode underscores the critical need for strategic economic reforms to rejuvenate American manufacturing and counteract global economic pressures.