"There is a Really Bad Fed Chair" Trump, Who Prayed, Criticized Powell Again

【Silicon Valley=Hong Chang-gi Correspondent】

Donald Trump, President of the United States, once again openly criticized Jerome Powell, the Chair of the Federal Reserve System (Fed), on the 14th (local time). Currently, President Trump claims that the U.S. benchmark interest rate should be lower than 1%.
He said in a speech at the White House Faith Office Luncheon, "The U.S. economy is booming, corporate confidence has surged, income has increased, prices have fallen, and inflation has disappeared."
President Trump continued, "We have a really bad Fed Chair. If he lowers the interest rate, I will treat him kindly, but he seems like an idiot. He is a fool. Really," criticizing Chair Powell.
He also pointed out, "A 1%p benchmark interest rate costs 360 billion dollars (about 498 trillion won). A 2%p costs 600 to 700 billion dollars. It's too high," highlighting the increased burden of national debt interest that the federal government has to repay due to high benchmark interest rates.
President Trump expressed anger that the Fed held four Federal Open Market Committee (FOMC) meetings after his second term inauguration but kept the benchmark interest rate at 4.25∼4.50%, saying, "I am angry with them. Why do we have to pay so much?"
Furthermore, President Trump emphasized, "We have no inflation, and the stock market has hit record highs. Everything is breaking records," adding, "The benchmark interest rate should be at 1%." He continued, "The benchmark interest rate should be lower than 1%. Switzerland has the lowest at 0.5%. We should be lower," he argued.




theveryfirst@fnnews.com Hong Chang-gi Reporter