President Donald Trump wants US interest rates down to 'zero or less' Photo: AFP/File
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Trump calls Fed members 'boneheads'

24 Comments
By Nicholas Kamm

President Donald Trump wants U.S. "interest rates down to ZERO, or less," he tweeted Wednesday amid widespread expectations that the Federal Reserve will cut rates later this month.

"We should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term," he added.

"It is only the naivete of Jay Powell and the Federal Reserve that doesn't allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of 'Boneheads.'"

As it becomes increasingly apparent that the U.S. economy has slowed in 2019, Trump has publicly berated Fed chair Jerome Powell and the central bank for failing to loosen monetary policy fast enough.

Investors overwhelmingly expect the Fed to deliver a 25-basis-point cut to interest rates as the global economy slows and the U.S.-China trade war drags into its second year.

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.

Powell has vowed to act to ensure that American economic expansion continues, but warned the central bank has no "rulebook" for dealing with the U.S.-China trade war.

"We have the great currency, power, and balance sheet," Trump said in announcing that the "Federal Reserve should get our interest rates down to ZERO, or less."

While the Fed is not expecting a recession, trade frictions -- as well as slower global growth and persistently low inflation -- are among the "significant risks" that policy makers are watching, the Fed chair said during a conversation at the University of Zurich on Friday.

The U.S. economic landscape has shifted this year, as business investment has weakened noticeably, manufacturing has fallen into decline and job creation has slowed.

The Fed chair noted, however, that unemployment had remained near historic lows for about 18 months while wages were rising, fueling consumer spending.

Powell, whom Trump promoted to Fed chairman last year, has come under repeated attacks from the president but has reiterated that he and his Fed colleagues ignore such comments when they set monetary policy.

© 2019 AFP

©2019 GPlusMedia Inc.

24 Comments

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Hmmm . . . Let's take the side of a guy that bankrupted a casino over members of the Fed. Only absolute morons would so do.

10 ( +11 / -1 )

Trump is right, the US has no reason to be paying interest.

The banksters are trying to steal from the US taxpayer and Trump is gonna stop them.

-12 ( +1 / -13 )

This man child is such a........ what did Chrissy Teigen call him again?

10 ( +10 / -0 )

Trump is right, the US has no reason to be paying interest. 

Why?

The banksters are trying to steal from the US taxpayer and Trump is gonna stop them.

Just like he made Mexico pay for his wall? Just like he released his tax returns? Just like he took care of the North Korean issue? Just like he replaced Obamacare with something better? Just like he replaced the Iran deal with something better?

Supporters of Donny are well into deluding themselves.

10 ( +11 / -1 )

Trump exasperated America's debt problem with his reckless tax cuts for the 1%, and as usual, he now wants to evade responsibility by cutting the record-breaking amounts required to service the debt. Of course, he cares nothing for the millions of American retirees who depend on a positive interest rate. Nor does he heed the experiences of such countries such as Japan who clearly demonstrate that negative interest rates are very damaging to the economy. Might as well stash your savings under your mattress.

As icing on the cake, he does so in insulting terms.

9 ( +9 / -0 )

The little kernel of truth is hidden here; Trump wants to lower interest on his debts. "The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt." Trump has massive debts with Deutsche Bank & wants to refinance.

Have you ever noticed how often Trump's insulting descriptions of others are really descriptions of himself?

Boneheaded?

Fits with "very rude," "low IQ," "crooked," ... we should make a list.

7 ( +8 / -1 )

Does it help any of us to focus on Trump's insults? Should the Fed lower interests rates or not? Either he is right or he is wrong about this and that's all that matters. And if people cannot figure that out they deserve to be ruled by boneheads.

-8 ( +0 / -8 )

Trump is asking for rates lower than Obama got during the Great Recession. What a wuss.

Expect Trump to offer up the farm since the economy is the only thing he has to run on. More tax cuts for me?

8 ( +8 / -0 )

It’s really easy to ramp an economy up. It’s really hard to do that in a manner that doesn’t result in a crash. Ask Bush, he’ll tell you.

This is a dangerous time, as trump is going to do whatever he can to ramp up the economy so he can get re-elected. The question is what the longer term effects of his actions will be.

6 ( +6 / -0 )

What most Americans don't know is that a 1913 act of Congress created the Federal Reserve Bank and tasked this private company with overseeing the people's money! The Federal Reserve Bank has often been at odds with the incumbent administration. It's a scam set up that does not reflect the will of people. President Trump, if he can, should abolish the Federal Reserve Bank system and put U.S. monetary policy control back into the hands of the people via Congress.

-8 ( +0 / -8 )

Bonehead? Yea, that's a pretty apt description of someone who gives billion dollar tax breaks to the Top 1% that blows up our deficit to the highest in history....

Republican fiscal conservative - the modern day Neanderthal....

6 ( +6 / -0 )

Excuse the guy ... but he doesn't know what he is talking about.

Nothing new here, same ol', same ol'.

4 ( +4 / -0 )

As it becomes increasingly apparent that the U.S. economy has slowed in 2019

Trump and the GOP are up against come re-election it if the economy weakens.

But I think what happens to the country is less important to Trump, McConnell and the others getting richer in their political positions than what happens to their personal wealth.

Trump knows the rate cuts would benefit him. His highest priority is getting richer while in office, and paying off his debts to 'international financiers'

PRESIDENT TRUMP WILL PERSONALLY BENEFIT FROM THE FED RATE CUT HE PUSHED https://www.citizensforethics.org/cut-fed-rate-trump-profits/

3 ( +3 / -0 )

Let's take the side of a guy that bankrupted a casino over members of the Fed. Only absolute morons would so do.

Let's not admit that the guy who overall made billions of dollars from successful businesses is right about the Fed. There's nothing federal about the Fed.

-8 ( +0 / -8 )

Let's not admit that the guy who overall made billions of dollars from successful businesses is right about the Fed. 

You know Donny would be far richer today had he simply sat in the land he inherited from his daddy instead of trying to play businessperson, correct? You have a very odd definition of "successful businesses."

5 ( +5 / -0 )

@serranohe guy who overall made billions of dollars from successful businesses

The amount of money Trump's made in the US and around the globe, and the amount he owes 'international financiers' has long been in question. If he'd show his most current tax info, the American public - excluding the minority who still back him - could find out. And maybe learn how much he and his family have profited from his time in the White House.

4 ( +4 / -0 )

Trump is just looking for someone to blame for his poor economic judgments, policies and trillion dollar tax cuts for the upper 1%.

It looks like he's running out of road to run on and 2020 is right around the corner. It's going to be fun to watch him lose control, but it's too bad he's the president of the U.S. This could get more dangerous than it already is.

3 ( +3 / -0 )

Let's not admit that the guy who overall made billions of dollars from successful businesses is right about the Fed. There's nothing federal about the Fed....

Geez Serrano...If he is running the Country that well and everything is prospering like you say why arnt you there in it...

4 ( +4 / -0 )

We could call Trump a 'Bonehead', but it difficult to find bones under those jowls of fat.

So I'll call him fathead

6 ( +6 / -0 )

Let's not admit that the guy who overall made billions of dollars from successful businesses is right about the Fed. 

A few corrections here, we do not know he made billions of dollars, however we do know that he lost almost a billion dollars.

Succesful businesses???

You mean the ones where he declared bankruptcy? He lost money on a casino !!!!! It takes a special kind of loser to lose money on a casino.

4 ( +4 / -0 )

Let's take the side of a guy that bankrupted a casino over members of the Fed. Only absolute morons would so do.

Let's not admit that the guy who overall made billions of dollars from successful businesses is right about the Fed. There's nothing federal about the Fed.

Oh, I see you've saw Donne's tax return also - I saw one today too....

It had the total income figure of $1 million crossed out and $100 billion written in black Sharpie....

It also had "No oligarch loans" written in Sharpie also...

In the occupation category "Genius" was written in....

6 ( +6 / -0 )

Boneheads. haha So critical that it gets its own article in the "world" section of a foreign country internet site. 

Liberals fall for it, every.single.time.

Its hilarious that POTUS acts like a child.

5 ( +5 / -0 )

I can't wait for him to be arrested. For financial reasons or whatever other crimes.

He'll be asking for a plea deal, no doubt. But the US doesn't negotiate with terrorists, right?

4 ( +4 / -0 )

Has Japan, like so many other countries, been dumping as much of its exposure to the inevitable crash of the American dollar as it can without triggering that crash?

If not, I pity the Japanese public.

1 ( +1 / -0 )

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