Trump Says Yellen Keeping Rates Low To Protect Obama

Zerohedge ^ | 10/18/2015 | Tyler Durden

[Rusty0604]

According to Donald Trump, Janet Yellen's decision to delay hiking interest rates is motivated by politics.

“This is a political thing, keeping these interest rates at this level,” Trump, the billionaire Republican presidential candidate, said in a Wednesday interview with Bloomberg Television's Stephanie Ruhle. “Janet Yellen for political reasons is keeping interest rates so low that the next guy or person who takes over as president could have a real problem.”

That problem spurred by raising rates, Trump argued, could be “a recession or worse.”

On the other hand, Trump faulted the Federal Reserve for not having acted sooner. “Yellen is keeping rates too low, too long,” Trump said.

Here are some other highlights from the interview:

“Yellen is doing this with the blessing of the President because he doesn’t want to have a recession - or worse- in his administration.”

“I’m a developer, I’m not complaining from my own standpoint, I’m just saying that at some point, you have to raise interest rates, you pay nothing. They are trying to put the recession - and it could be a beauty into the next administration.”

[Arthur McGowan]

So far, REAL monetary reform is not on the 3x5 card of allowable opinion.

Abolish the Federal Reserve. Americans should have gold and silver coins in their pockets. Fractional-reserve lending should be illegal.

[trebb]

raising interest rates when there are almost no jobs is not a good idea yes, the lack of much employment for American citizens is largely the result of several OTHER Obama policies we need to get those economically-destructive, job-killing policies fixed first then let interest rates rise to sustainable levels in the free marketplace doing the rates right now would not be good timing given the mostly-bleak job situation for so many millions of Americans first things first. stop killing our jobs... and then free up rates

That's like saying we can't operate on the cancer because the cancer was created to prolong the illusion of health.....

[rbg81]

Pardon me, but with umpteen trillion of debt, how can you raise the interest on that debt?

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And there you have it. Trump is partially right (about protecting Obama). But the bigger reason for keeping interest rates at zero is protecting the Entitlement State. If rates rise much, then the US deficit becomes un-affordable and the Entitlement State will collapse. Of course, who is paying the bill for all this? Savers, who are not getting any interest on their hard-earned savings.

[fortheDeclaration]

Trump is correct, if the rates were raised the Stock Market will crash.

The Fed will raise rates when a Republican is elected.

[timestax]

bump