President to set Interest Rates?
Posted: Apr 27, 2024
- Donald Trump's aides have secret plans to allow the President to set interest rates - Plans include ousting the chairman of the Federal Reserve, Jerome Powell - Trump appointed Powell and wants more control over monetary policy - Limiting Fed's independence could have negative effects on the economy - Lowering interest rates could lead to inflation and higher borrowing costs - Fed may need to keep interest rates higher to manage price rises - Financial markets predict one interest rate cut in November, which may not benefit voters before the election.
Summarized top reddit comments: - Fear of high inflation due to potential move by President to set interest rates - Concerns about negative consequences seen in other countries like Venezuela and Turkey - Belief that lowering interest rates to 0% could have negative impact on economy - Criticism of Trump's potential influence on interest rates during his presidency - Worries about potential dismantling of scientific agencies under Trump administration
Stay ahead of the market with AI stock alerts & AI summaries of the latest earnings, stock ideas for free with Fluid Bot. Sign up now!