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.

Trump bemoans Fed interest rate policy, says U.S. should be paying much less

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.