Trump Calls for Fed Rate Cut, Says He Won't Fire Powell

Bloomberg

a day ago

00:00
I like long term cheap debt, but a lot of the debt comes through because Biden that's what he didn't do it. I'm sure he didn't know anything about it, but somebody approved short term debt. It's all over the place and it comes due starting very soon. And if we would lower the interest rates by one point, we pay about one point less. That's $300 billion a year. Can you believe at one point if it lowered by two points? We pay $600 billion a year, leases for years, ten years, 12 years, whatever we make it. But we can't get this guy to do it. And the fake news is saying, Oh, if you fired him, it would be so bad. It would be so bad. I don't know why it would be so bad, but I'm not going to fire him. I just want him to you know, we call him too late, right? Two ladies is, like, too tall. Jones. He was too tall. Tall. And I just say this because we want to get rid of inflation. And we have, but we're going to be paying more for debt. And all he has to do is lower it. Europe's done ten lowering. We've done none. And nobody understands that. Actually today, when the numbers came out, they were so good. You saw yesterday's numbers. Incredible. No inflation. Today's numbers. Today just came out. Same thing. No inflation. They're all shocked. All these guys are watching from business, CNBC and all of these different networks. Maria BARTIROMO actually got it right. She's been getting it right for a long time. That one. I hope she's appreciated. And Joe Kiernan has been very good at CNBC, I must tell you. But other people aren't so good. But I will say that they are just they can't believe what's happening. But if I could, because we can discuss oh, we get a lot of press, we get a lot of cameras rolling right now. Not that I like doing it because I don't. But if we take if we cut our interest by 1.4 years, we save 300 billion. If we get it by two points, we save because it's pretty equivalent. We're going to save. We're going to spend 600 billion a year, 600 billion because of one numbskull that sits here. I don't see enough reason to cut the rates now. And the problem he's got is that and I explained here, look. If inflation went up. Cut your rates now. There's no inflation. We got it down. We got prices down, we got gasoline down. And you'll keep it going down. But gasoline's down. We drill, Let's drill, baby, drill. That's what it's why it's going down. But we all that but think of it. I said to him, he was in my office a couple of days ago. I said, if you. Think there's inflation. Let's find out, because I think we're going to keep it down. I think gasoline is going to be so far down. Oil energy has so much in it. We have so much energy. We don't know what to do with it. But let's say there was inflation in a year from now. Raise your rates. I don't mind. Raise your rates. I'm all for it. I'll be the one to be calling you. He'll be too late for that, too. But raise your rights. You don't have to keep them up here. If it's going to go up, I'm okay with you raising, but it's down.