Trump Calls Powell a "Numbskull" for Not Lowering Interest Rates
Dow Jones06-13
President Donald Trump said he has no plans to fire Federal Reserve Chair Jerome Powell but called the central bank chief a "numbskull" for not lowering interest rates.
Speaking at a White House event on Thursday, the president claimed that cutting interest rates by two points could save the U.S. $600 billion a year.
"The fake news says 'oh if you fire him, it would be so bad.' But I'm not going to fire him," Trump said. "We want to get rid of inflation and we have. We'll be paying more for debt. All he has to do is lower it."
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Trump appointed Powell in the first place so, like all of the other appointments that have soured in Trumps mind, the 'blame', if any, rests solely on his shoulders...
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