President Donald Trump renewed his criticism of the Federal Reserve and Chair Jerome Powell for keeping interest rates high, while adding that rates will decline significantly under the next Chair.
Rates Will Come Down ‘A Lot’
During a speech in Iowa on Tuesday, Trump slammed Powell yet again for being too slow and indecisive when it comes to acting on monetary policies. “We call him too late. He’s too late,” Trump said.
Trump said that the Fed chair was deliberately keeping borrowing costs elevated, saying Powell “wants to keep rates as high as possible,” while adding that despite this, his administration was able to bring “rates down.”
With Powell set to step down as Fed chair in May, Trump said the country would have a “great Fed chairman,” and that the announcement would come “pretty soon.” He also added …Full story available on Benzinga.com
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