Trump bemoans Fed interest rate policy, says U.S. should be paying much less
As he has done in the past, Trump accused Fed officials of having political motives.
TL;DR
- President Trump criticized the Federal Reserve for not lowering interest rates, despite positive economic news.
- He suggested that Fed board members, excluding Chairman Kevin Warsh, have political motives for their decisions.
- Trump contrasted U.S. interest rates with those in countries like Switzerland, where rates are significantly lower.
- The President argued that higher interest rates negatively impact the economy and the nation's debt burden.
- Minutes from the FOMC's July meeting indicated that many officials expect higher rates unless inflation shows more progress.
- The Treasury Department announced an increase in its bond buyback program.