Trump gripes about Switzerland amid bond market pressure
President Donald Trump singled out Switzerland for its low interest rates when asked whether the administration had done enough to stabilize the bond market after 30-year Treasury yields surpassed a two-decade high this week.
TL;DR
- President Trump criticized high U.S. interest rates, comparing them to Switzerland's much lower rates.
- Trump believes the Federal Reserve should lower interest rates due to the country's strength and good credit.
- He suggested the U.S. has the right to cut off business with countries like Switzerland that have very low interest rates.
- 30-year Treasury yields reached their highest point since 2007.
- The U.S. national debt reached $40 trillion.
- The Treasury Department will increase the size of its government debt repurchases.
- Trump commented on Federal Reserve Chairman Kevin Warsh, stating he thinks Warsh is doing a great job but is constrained by a "political board."