It was only a matter of time before President Donald Trump started pleading for negative interest rates. As the rest of the world starts flirting with ZIRPs and NIRPs again, Trump is telling everyone: Me too! And not the #MeToo variety either.
On Wednesday morning, Trump tweeted:
The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet…..
The USA should always be paying the the lowest rate. No Inflation! It is only the naïveté of Jay Powell and the Federal Reserve that doesn’t allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of ‘Boneheads.'”
Is Trump actually going for subzero rates?
That is terrifying.
What the heck happened to the real estate billionaire mogul who said he hates low interest rates because they hurt the American people? That guy was pretty good.
Sad!
I would like to suggest to President Trump that just because “other countries are doing it (negative interest rates)” doesn’t mean the United States should do it, too.
Does he know what we call these other nations? Failures.
And does he really think this will Make America Great Again?
If he does, then he might become a failure.