A full percentage cut would reportedly save the president $3 million annually in interest payments.
President Donald Trump won’t stop haranguing Federal Reserve Chairman Jerome Powell to cut the Fed interest rate — again — now by as much as a full percentage point. One entity that would save millions annually from such a move would be Trump’s own company — along with its various businesses.
Lower interest rates would also help Americans paying mortgages. But it would hurt people on fixed incomes with little or no debt who count on interest from savings accounts or savings vehicles such as Certificates of Deposit, which would pay less interest. A full-point rate percentage cut is typically done during an economic emergency — and Trump claims the American economy is booming. Critics say such a cut would leave the Fed with little extra stimulus space in the event the economy craters.
Story continues“Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the United States,” Powell warned.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Trump Suggests Second Thoughts About Trade WarPresident Trump for the first time showed a glimmer of regret about escalating the U.S. trade war with China, after meeting with world leaders at the Group of Seven summit who have largely decried his trade practices.
Leer más »
At G-7, Trump says he is not happy about North Korea missile testsPresident Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.
Leer más »
U.K.’s Johnson Charms Trump, Questions Trade WarBoris Johnson has peppered Trump with calls as he seeks to shore up Britain’s ties with the U.S. On Sunday, he was rewarded with warm words and the promise of a quick trade deal with the U.S.
Leer más »
Trump says world leaders ‘getting along very well’ at G-7 summitTrump arrived at the summit Saturday amid an escalating trade war with China and threatening to start another with Europe.
Leer más »
Trump storm hits Macron’s G7 seaside summitFrance's Atlantic coast is famous for its storms and one is heading straight for G7 leaders gathering in the glitzy beach resort of Biarritz
Leer más »
Trump: G7 allies 'respect' China trade war, despite warningsTrump says G7 allies 'respect the trade war' with China, despite their warnings against its global consequences.
Leer más »