On Wednesday, President Donald Trump renewed his attacks on Federal Reserve Chairman Jerome Powell, blaming him for keeping interest rates too high and pressing the Fed’s board to intervene.
“Our Rate should be three points lower than they are, saving us $1 Trillion per year (as a Country). This stubborn guy at the Fed just doesn’t get it — Never did, and never will. The Board should act, but they don’t have the Courage to do so!” Trump posted on his social media platform.
Trump’s complete statement on Truth Social was as follows:
“Housing in our Country is lagging because Jerome ‘Too Late’ Powell refuses to lower Interest Rates. Families are being hurt because Interest Rates are too high, and even our Country is having to pay a higher Rate than it should be because of ‘Too Late.’ Our Rate should be three points lower than they are, saving us $1 Trillion per year (as a Country). This stubborn guy at the Fed just doesn’t get it — Never did, and never will. The Board should act, but they don’t have the Courage to do so!”
At this point, he can’t lower rates without losing face.
I don’t anticipate rates coming down until the end of Powell’s term.
If someone can cause 1Trillion loss for America, how can’t he be fired? The Government is “for the people”…. Even if not every single position in Washington is an elected position, if they are found to be damaging “we the people” they should be fired immediately. The amount of “Laws” Washington put in place to “protect” blatant corruption is enough to create a civil war. These numbers are not pronounceable by most Americans. Outrageous