Dispute over interest policy
Trump: I understand more of interest than Fed boss Powell
President Donald Trump likes to call the head of the US Federal Reserve a lottery and “Mr. too late”. He is dissatisfied with his interest rate policy and feels too hesitant.
A week before the next interest decision by the US Federal Reserve, President Donald Trump asked her boss Jerome Powell to reduce the key interest rate. “He should reduce interest. I think I understand much more of interest than him,” said Trump at a appearance in the White House. “It would be positive, but it won’t play a major role, because in the end what we create has much more to do with others than with the pure interest rates.” However, low interest rates would be good for potential homes, he added.
He was not a big fan of Fed President Powell, said Trump – and jokingly pushed after: “Don’t tell him.” In the past, Trump had said much more estimated and sometimes insulting about Powell.
Trump had nominated Powell in 2017 as a Fed leader for his first term, but later attacked him publicly because of his point of view. Trump also demanded even more vehemently than previously an interest rate reduction in the past few weeks and described Powell as “Mr. too late” and as a “big loose”.
Powell should not reduce interest risks due to inflation risks according to Trump’s customs circuit for the time being. Experts assume that the US Federal Reserve will not touch the key interest rate in the coming week.
dpa
Source: Stern
