Tuesday, September 13, 2016

Trump says Fed keeping rates low because of pressure from Obama

Republican presidential candidate Donald Trump said on Monday that U.S. Federal Reserve Chair Janet Yellen was keeping interest rates low because of political pressure from the Obama administration, questioning the motives of an institution whose work hinges on maintaining its independence.

'Well, it's (the interest rate) staying at zero because she's obviously political and she's doing what Obama wants her to do,' Trump told CNBC in a phone interview, saying Yellen should be 'ashamed' of what she was doing to the country.

The U.S. central bank has raised interest rates just once since cutting them to zero in response to the 2008 financial crisis.


1 comment:

Anonymous said...

Trump is an idiot.
Obama works for the Fed.
Not the other way around.

Trump will work for the Fed as well. Very soon.
Then he will regret saying mean things about his bosses.