Exclusive: Trump demands Fed help on economy, complains about interest rate rises

[Yo_Mama_Been_Loggin]

U.S. President Donald Trump said on Monday he was "not thrilled" with the Federal Reserve under Chairman Jerome Powell for raising interest rates and said the U.S. central bank should do more to help him to boost the economy.

In the middle of international trade disputes, Trump in an interview with Reuters also accused China and Europe of manipulating their respective currencies.

American presidents have rarely criticized the Fed in recent decades because its independence has been seen as important for economic stability. Trump has departed from this past practice.

The president spooked investors in July when he criticized the U.S. central bank's over tightening monetary policy. On Monday he said the Fed should be more accommodating on interest rates.

https://www.msn.com/en-us/money/markets/exclusive-trump-demands-fed-help-on-economy-complains-about-interest-rate-rises/ar-BBMbvZi?li=BBnbfcL

Nixon tried leaning on the Fed. The result was double digit inflation.

[Iliyah]

1. UGH

[underpants]

2. Help on the economy? I thought it was THE BEST economy ever.

This guy honestly has nothing better to do.

[GusBob]

3. "do more to help HIM boost the economy"

Always about him

[D_Master81]

4. Does he have any idea how interest rates work?

He should be grateful they're still as low as they are.

[Xolodno]

5. Congress technically has the authority...

...to command interest rates. With that being said, Andrew Jackson's dismantling of the Central Bank taught a serious lesson. A central bank needs to be autonomous and removed from politics, for the good of the country. And yet that fucker Jackson is still on the twenty dollar bill...makes no sense.

[no_hypocrisy]

6. Consider if the interest rate were raised 0.05% (half a percent)

on a National Debt of $21 trillion. That adds $1,050,000,000,000 ($1.05 billion) to the Debt.

[ProfessorGAC]

7. Picking A Nit

A half percent is 0.5% not 0.05%. You describing a half of a tenth of a percent.

And your debt increase is not as you describe. A half percent is 1 over 200. 21 trillion divided by 200 is $105 billion. So you have one too many zeroes in your number and a decimal place you don't need in the parentheses.

Also, remember that the change in interest rate would apply to new money, not already existing debt. In fact, there is still outstanding debt on 30 year treasuries that are still paying 6 to 7%. If we could find a way to retire those and reissue with today's interest rates, it would save tens of billions. Of course, that would be reneging on the deal made when people invested in those bonds, so it would be wrong for the gov't to do that.

[no_hypocrisy]

8. Thanks for the clarification.

Truly.