Donald Trump wants a 'say' in setting interest rates

[AZLD4Candidate]

Source: Yahoo Finance via AOL News

Former President Donald Trump said Thursday that he would like a "say" in setting interest rates if he is reelected, further raising the prospect that the Republican nominee could seek to reduce the independence of the Federal Reserve if he wins in November.

"I feel the president should have at least say in there, yeah, I feel that strongly," the presidential candidate said in response to a question about the US central bank interest rate policy and the prospects of a soft landing for the US economy.

The brief comments came near the end of a news conference Thursday at his Mar-a-Lago club in Florida.

The comment also came after allies of the former president have floated a series of ideas in recent months that could undercut an independent Federal Reserve, ranging from firing Federal Reserve Chair Jerome Powell to a plan first reported in the Wall Street Journal that has the president himself playing a role in setting interest rates.

Read more: https://www.aol.com/finance/donald-trump-wants-setting-interest-122238419.html

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Anti Midas wants to strike again, turning gold into shit.

[underpants]

1. A lot of his debt is tied to the Prime rate

from what I’ve read.

[FalloutShelter]

2. Convicted Felon says what?

[no_hypocrisy]

3. Yeah, reduce it to negative numbers so depositors of savings accounts

have to PAY the bank to keep their money and to allow corporations to borrow wildly and likely default.

[twodogsbarking]

4. I have a dream. DJT.

[SKKY]

5. Sure. Let the 6-time bankrupt convicted criminal have a say in what is possibly...

...one of the most important financial decisions in the world. What could possibly go wrong?

[Javaman]

6. the fucking idiot will want to set them to zero for himself and his wealthy assholes but

for the rest of us, they will skyrocket.

aka, the economy would collapse in a day.

[JohnSJ]

7. This should be much bigger news. He also wants the executive branch to have the final word

in Federal Reserve policy. In other words, destroy the independence of the federal reserve.

Extremely bad policy, because then decisions are made on the basis of politics, not on what is right or wrong.

His proposal that the U.S. government should now build up reserves of bit coin is absolutely insane.

Both are surefire way to lea us into another great depression.

trump is a dangerous person in so many ways.

[Farmer-Rick]

8. Well as a dick tater

He could do that. He could just make the Fed give him all our tax dollars too. Dick taters like Putin and Erdoğan do it all the time. He could get the US to build him a golden palace with an underground tunnel like little Putin has.

But as a president of the US democratic government, that would be illegal, unethical, immoral and wrong. But I'm sure the Supremes will find a way to make it look like it's constitutional.

After all, the only useful purpose a judicial branch serves under a dick tater is to give a veneer of legality to the King's actions.

[FakeNoose]

12. He'll only be a dick-tater on Day One

Then on Day Two we'll all go back to normal, just like he promised.

[surfered]

9. There is a reason for interest rates being set by a non-partisan board.

[twodogsbarking]

10. If he is dictator he can do whatever he wants and he would, including executions.

[mathematic]

11. And people think the Fed is trying to get "The Boss From Hell" re-elected

Independent central banking is a pillar of liberal good government.

[Aristus]

13. Because of his extensive background, training, and experience in economics?

[Justice matters.]

14. Bankrupt Captain Felonius is just saying that to CON his voters...

And those still "on the fence" because he will say ANYTHING he thinks will CON them.

All he wants is to stay out of jail by any means so he will say anything, including helicopter LIES.

[BattleRow]

16. Ole What's his name

Don the Con?

[slightlv]

17. Don't forget all the money from our taxes,

the Treasury, Social Security (especially that "lockbox&quot , etc., that he wants for his personal account and use. Within a month of taking office, he would bankrupt the entire United States, have most of us in food lines, and endanger the world economically. Foreign countries recognize this fact right now, as do most of their people. Only magats... both here and abroad... think he's a financial whiz.

[mwooldri]

15. No. Just no.

I remember Black Wednesday in the UK in 1992 too well. A certain guy called George Soros made a big bet against the Bank of England. And won. One of the tools that the UK Chancellor of the Exchequer (Finance Minister) used was interest rates. Interest rates were high to keep the weak pound attractive against the strong deutschemark. To keep interest rates high was a political decision. As a last ditch effort, the Chancellor jacked up interest rates from 10%, up to 15%, going down to 12% by the end of the day.

The aftermath was that the Tories lost their reputation for being good on the economy, the UK would never enter the Euro, Labour won the 1997 election, the Bank of England gained its independence in 1998, and future bank policy was focused on keeping inflation low rather than what the politicians wanted.

If US politicians had much more say over the federal reserve, I'm certain inflation would go up, and interest rates would also go up to prop up a weakened dollar.

Fed needs to be independent. DJT needs to keep his nose out. Preferably out of DC completely, along with the rest of his appendages.

[KPN]

18. Gee ... What could possibly go wrong?

[TomCADem]

19. So he wants to be like Turkeys President Erdogan?

Who tried to keep interest rates low to juice Turkey’s economy, which lead to hyperinflation. Thus, Turkey then had to backtrack and jack up interest rates to slow the hyperinflation down.

https://www.politico.eu/article/end-recep-tayyip-erdogan-economics-turkey-double-interest-rate-inflation/

[GB_RN]

20. We All Want Things In Life.

Cantaloupe Caligula the Corpulent has not learned the lesson that we don’t/can’t always get what we want. For instance, I wanted his ass in jail as of 1/21/21. I didn’t get my wish, either.

[Initech]

21. The MAGA idiots shouldn't be allowed a shred of power ever again.

They will utterly destroy the United States government if given the opportunity.

[FakeNoose]

30. It's going to be over after the November election

After they see what a loser and fake he is, they'll abandon him.

There won't be a MAGA after this, they'll feel very angry and cheated. So what's going to happen to the Republican Party, is it finished? Are they going to kick him out, or maybe he'll leave willingly. Nah it won't be a happy ending.

[Captain Zero]

34. when he loses in November the GOP will start calculating what he stole from the party

It's going to get ugly.

[FakeNoose]

35. I think so too

The billionaires who supported him will suddenly be unavailable and out of the country.

[twodogsbarking]

22. Come on sharks, let him have it.

[onetexan]

23. Why the hell does this felon allowed to have a say

And why does the media wana broadcast such shit? The conman has no power.

[Harker]

24. I'd like a 'say' in his upcoming criminal sentencing. n/t

[IronLionZion]

25. He pressured them to lower rates during his presidency

for no reason other than his stupid tax cuts weren't working as expected for the economy.

[Irish_Dem]

26. Manipulate the entire US economy solely for his personal benefit.

[Midnight Writer]

27. Exactly. And as an Official Act of the President, any game he chose to play would be legal.

[Irish_Dem]

29. He probably did this every day when in the WH.

"How can I make a fortune today ripping off the American taxpayer?"

[LudwigPastorius]

28. So, he wants to "dictate" interest rates?

...but, just on day one, right?

[Brainfodder]

31. Don't we all, Donald Doodoolittle!

Mini Hitler is going to go after her, he is desperate, he is due and should get life in prison equivalent for a 78 year old already passed the average life span of an out of shape weird AF loser when all the smoke clears, and it begins Sept 18th when he is sure to declare something, as the Sinister Snowflake is sentenced for the WITCH HUNT!

I will be that day.

[Iris]

32. What could possibly go wrong ?

[andym]

33. President's have a say. They appoint the Fed Chairman. Jimmy Carter ended stagflation

Not Reagan. How? By appointing inflation hawk Paul Volcker. Jimmy Carter knew that Volcker would attempt to raise the Fed rate to historic levels, which would cause economic pain and damage his reelection chances, but he did it anyway, for the long-term good of the nation. Volcker was appointed in 1979, but it took until 1983 for the tactic to fully work.

If Presidents like Trump could directly make Fed policy, they would act in their own perceived self-interest, harming the nation long-term.