Trump Confident Interest Rates Will Soon Be Reduced
“I just think they’re going to be lowered. I mean, they should be lower," Trump told a news agency.
He added, “We’re way high, OK?” and emphasized, “We’re way high in interest. We have now, with me and with all the money, I’m — I’ve always been good at money — and with all the money coming into our country, we’re a rich country again. We have debt, but we also have growth, and the growth will soon make the debt look very small."
Trump also noted that he would not have chosen Kevin Warsh, a former Federal Reserve board member, to head the central bank if his goal had been to increase interest rates.
On Jan. 30, Trump revealed that he had nominated Warsh to become the next chairman of the Federal Reserve.
This nomination came after Trump’s ongoing criticism of current Fed Chair Jerome Powell, whom he repeatedly reproached as the Fed maintained interest rates last year before cutting them in three subsequent meetings.
Trump has consistently stated that he intends to appoint a Fed chair who supports lower interest rates.
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