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Trump plays down bond market fears, pushes interest rate cuts
Trump said solid economic data should not block lower rates as the Treasury stepped up buybacks of 10-year-plus debt, officials said.
- On Wednesday, President Donald Trump publicly pressured the Federal Reserve to reduce interest rates, arguing solid economic data should not prevent easier policy and expressing frustration with the current pace of reductions.
- Trump described the Federal Reserve board as "political," alleging members appointed by Obama, Biden, and himself favor higher rates due to bias rather than data; he contrasted this with historical norms when good economic news led to lower rates.
- Citing Switzerland's half percent benchmark rate, the President argued the U.S. three and a half percent rate is unfairly high; he praised Chairman Kevin Warsh for doing a "great job" in his May leadership position.
- Earlier Wednesday, the Treasury Department expanded its bond buyback program targeting debt with durations of at least 10 years to manage the financing burden of the nation's nearly $40 trillion debt.
- Federal Open Market Committee minutes released Wednesday indicated that many officials believe higher rates remain necessary unless inflation progress accelerates, providing the policy backdrop for the administration's rate-cut demands.
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The Fed protocol shows growing support for interest rate hikes. Donald Trump, on the other hand, calls for lower interest rates and increases pressure on head of the central bank Kevin Warsh.
The Economic TimesReposted by 
Times of India
Times of IndiaTrump urges Fed to cut interest rates, says 'they are so afraid of inflation'
US President Trump wants the Federal Reserve to lower interest rates soon. He believes the central bank fears inflation and should not raise rates. Policymakers discussed higher rates unless inflation shows more progress. US inflation remains above the Fed's target, despite recent positive data. The economy grew at 1.5% year-on-year in the second quarter.
·Mumbai, India
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Coverage Details
Total News Sources9
Leaning Left2Leaning Right3Center4Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 22%
C 45%
R 33%
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