As 9/11 dawns, Trump blasts Fed members as 'boneheads'

12 Septembre, 2019, 01:33 | Auteur: Auguste Feret
  • President Donald Trump speaks at the National Historically Black Colleges and Universities Week Conference in Washington Sept. 10 2019. Trump via Twitter urged the Federal Reserve to cut interest rates below zero suggesting a last-ditch monetary policy

U.S. President Donald Trump on Wednesday said the Federal Reserve should lower U.S. interest rates to "zero or less" to help "refinance our debt" with lower interest costs and a longer term, and blamed the U.S. central bank's chief for missing "A once in a lifetime opportunity". The rate now is in a range of 2% to 2.25%. We have the great currency, power, and balance sheet.The USA should always be paying the the lowest rate.

Monetary authorities such as the European Central Bank, the Swiss National Bank and the Bank of Japan have had policies on interest rates that are effectively below zero, as a way to boost demand for loans and stimulate sluggish economies.

With Trump polling behind several Democratic candidates in his 2020 re-election campaign and Americans fearing a recession within the next year, the president is seeking to deflect blame for any economic ills. "President Trump's call for zero or even negative (!) interest rates would not be medicine, but in fact poison, for the long-term health of the economy".

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The Fed cut the benchmark interest rate in July for the first time in more than a decade, partly as insurance against the impact of trade uncertainties on the economy.

Those who approach monetary policy from a free market perspective mistrust-and see as inherently artificial and manipulative-using Federal Reserve interest rate policy to satisfy short-term political goals.

"I just don't see the cost/benefit there being very attractive" Fed Governor Lael Brainard said in an August 5 televised interview with Yahoo Finance.

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