Trump said “worried” because the renovation of the Federal Reserve (FED) in Washington should now cost $ 2.5 billion (around 2.1 billion euros). Trump criticized $ 900 million than planned, including increased interest costs. “There may be fraud in the game,” added the president.
From the White House it was said that Trump advised on Tuesday evening with Congress Member of the Republican Party. Some of them also demanded Powell’s dismissal, and Trump thinks about it.
Powell is doing “a terrible job,” Trump continued. He cost the United States a lot of money because he refuses to reduce the key interest rate. This is currently between 4.25 and 4.5 percent.
Trump hopes for higher investments from an interest cut because loans would be cheaper. It would also be cheaper for the state to borrow money on the financial markets. The United States has been fighting with high government debts for years. A recently adopted tax and expenditure law of Trump should drive debt to a new high.
The President’s statements, however, once again caused unrest at the financial markets: the returns of US state bonds with a 30-year term rose to over five percent.
In the past, Trump Powell had repeatedly attacked personally. He called him a “weak head” and “Trump hater”. The tenure of the 72-year-old central bank manager will end in the coming year. The President wants to appoint a successor in the coming months.
Praise/yb
