President Trump called on the Federal Reserve to slash interest rates by a whole percentage point to boost American growth. The last time the Fed cut rates that much was December 2008, amid the deepest financial crisis since the Great Depression.
That would be a huge rate cut. The last time the Fed cut rates that much was December 2008, in midst of the the deepest financial crisis since the Great Depression. The central bank slashed rates from 1% to essentially zero at the end of 2008. It had never done anything like that before.That's just the point.
— Donald J. Trump April 30, 2019 ....up like a rocket if we did some lowering of rates, like one point, and some quantitative easing. Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!
— Donald J. Trump April 30, 2019 Trump's attacks on the Fed's policies aren't new anymore. But they continue to worry investors about the central bank's independence, which is not a typical concern in the developed world.The president has also called for rate cuts before. But 1% is a whole new ballgame.Last week, White House economic adviser Larry Kudlow said that weak personal consumption inflation, a part of the GDP report, could lead the Fed to cut rates in the near term.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump calls on Fed to cut rates by 1% and urges more quantitative easingIn a two-part tweet, the president says more easing would make the economy 'go up like a rocket.'
Read more »
Trump intensifies calls on Fed to cut interest ratesDonald Trump urged the Federal Reserve to lower interest rates, renewing his long-running campaign against the central bank, which he claims has hindered economic growth
Read more »
Trump Fed pick Stephen Moore’s worry about declining “male earnings” criticized as “chauvantistic retrograde view”“Practically the only reason that middle class incomes have not stagnated is because of women,” said Anne Kim of The Progressive Policy Institute.
Read more »
Trump Repeats Calls for Fed to Stimulate GrowthPresident Trump called for the Fed to cut interest rates by 1 percentage point and resume its crisis-era bond-buying program to stimulate economic growth.
Read more »
Powell will try not to draw ire of Trump or rock markets after Fed meeting WednesdayFed Chairman Jerome Powell will try to not to upset markets or the White House when he speaks Wednesday.
Read more »
Trump Fed pick Stephen Moore has a 25-year track record of criticizing gender advancementStephen Moore, President Donald Trump's pick to serve on the Federal Reserve Board, once dismissed the Violence Against Women Act as the 'most objectionable pork' in the 1994 crime bill, saying the money would better spent if Americans were forced to write checks to 'radical feminist' groups.
Read more »
Trump Fed pick Stephen Moore: Biggest problem to the US economy is declining 'male earnings'Stephen Moore, President Donald Trump's pick for the Federal Reserve, says the biggest problem to the US economy is the decline in 'male earnings'
Read more »
White House is 'reviewing' Trump Fed pick Stephen Moore's controversial past writingsWhite House press secretary Sarah Sanders confirmed Monday that the administration is currently reviewing the past writings of conservative economics pundit Stephen Moore, Trump's pick to join the Federal Reserve Board. Moore's writings have been criticized for denigrating women.
Read more »
After the Cain fiasco, Trump probably will change strategy for the FedPresident Trump's controversial pick of Herman Cain to the Federal Reserve failed and his other recommendation for Stephen Moore remains under attack. Here's what the recent headlines mean for the future of the Fed.
Read more »
Young voters in L.A. are fed up and looking for a candidate who can dump Trump.LATstevelopez wanted to see what some younger Angelenos had on their minds, and how they’d choose a candidate. Here's what he found.
Read more »