Exactly what Trump wanted!
-
ZolotoyRetriever — 6 years ago(August 02, 2019 03:42 AM)
Well, not too long ago the Fed was on a steady course of monetary tightening (i.e.,
raising
interest rates), which would eventually have the effect of slowly "strangling" the economy. Trump didn't like that, because it would mean he'd have an overall bad economy which would reflect poorly on his presidency. So, he pretty much told the Fed to lay off the interest rate increases, and go the other way (interest rate decreases instead of increases) to make for easy money and a continued economic boom.
Trump is basically saying that his predecessor, Obama, essentially got zero-interest rates during his terms in office which helped the economy and made Obama look good as president, so Trump is essentially saying that HE would like the same thing.