Low Interest Rates, 9/5/16
Republican presidential
nominee Donald Trump, who has previously accused the Federal Reserve of keeping
interest rates low to help President Barack Obama, said on Monday that the U.S.
central bank has created a "false economy" and that interest rates
should change.
"They're keeping
the rates down so that everything else doesn't go down," Trump said in
response to a reporter's request to address a potential rate hike by the
Federal Reserve in September. "We have a very false economy," he
said.
Trump repeated his
criticism that the Fed has created a "bubble" and an "artificial
stock market" through low rates that were designed to benefit Obama.
"They're keeping
the rates artificially low so that Obama can go out and play golf in January
and say that he did a good job," Trump told reporters Monday aboard a flight
to Youngstown, Ohio.
"At some point the
rates are going to have to change," Trump, who was campaigning in Ohio on
Monday, added. "The only thing that is strong is the artificial stock
market," he said.
Fed Chair Janet Yellen
said last month that the U.S. central bank was getting closer to raising
interest rates, possibly as early as September, saying that the Fed sees the
economy as close to meeting its goals of maximum employment and stable prices.
The Fed raised interest
rates last December for the first time in nearly a decade, and at that time
projected four more hikes in 2016. The Fed later scaled back that projection to
two rate hikes this year in the wake of a slowdown in global growth and
continued financial market volatility.
Trump, during the
primary campaign, as he took on 16 Republican rivals, had called Yellen's
tenure "highly political" and said the Fed should raise interest
rates but would not do so for "political reasons."
The Fed has been a
target of some conservative critics in the U.S. Congress, who say the bank
risked sparking inflation with its easy monetary policies in response to the
global financial crisis.
Fed officials say their
independence is critical to making sound policy decisions.
© 2016 Thomson/Reuters.
All rights reserved.
Comments
Interest rates won’t
normalize until the federal budget is balanced and jobs have returned to allow
the national debt to be reduced. That
should happen under Trump’s plan in his first term, from 2017 to 2021. Trump will cut enough dangerous, treasonous, useless
and wasteful federal spending to make this happen.
The Communists in the
federal government will start to return to their planning and scheming rooms
almost immediately. They are the
perpetrators of our sovereignty killing regulations.
Trump won’t cut the
welfare plans except for refugees, immigrants and illegals. He will build the
wall and reduce immigration to pre-1989 levels.
He will stop and reverse Refugee resettlement in the US. He will deport illegal criminals. He will unleash
surveillance on Mosques and deport suspected Jihadists.
He will defend Social
Security for current recipients. He will repeal Obamacare. He will roll back EPA regulations and restore
coal-fired and hydro-electric power plants.
He will unleash oil, gas, lumber and mining. He will reduce the corporate tax to 15% and
impose tariffs on products manufactured overseas. He will eliminate our trade deficit. He will kill Common Core. He will end UN
Agenda 21 in the US.
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