Economics

Trump Ups Pressure on Fed, Seeking Rates of Zero ‘Or Less’

  • U.S. should always pay lowest interest rates, president tweets
  • Trump assails ‘naïveté’ of Fed’s Powell, decries ‘boneheads’
Trump Calls on Fed to Lower Interest Rates to 'Zero or Less'
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President Donald Trump urged the Federal Reserve to lower interest rates to a level typically reserved for recessions or periods of persistently weak growth, suggesting that such a setting could allow the government to refinance Treasury debt at a lower cost.

The Fed should “get our interest rates down to ZERO, or less,” Trump said in an early Wednesday tweetBloomberg Terminal that went beyond his previous attacks and demand for a cut of one percentage point. “We should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term.”