“But for those who still believe the candidates’ approach to the nation’s economy should matter, Trump’s comments were more than a little alarming. At least yesterday―who knows what his beliefs might be today―the Republican presidential candidate accused the Fed without proof of being politically manipulated by the White House, while simultaneously endorsing higher interest rates, which would slow the economy, despite having said the exact opposite four months ago.”
Let’s play a game: What would Donald do?
Today, he said Fed chair Janet Yellen’s interest rate decisions proved she was “obviously not independent” from the White House and was, in fact, a partisan conspirator out to help Democrats.
“It’s staying at zero because she’s obviously political and she’s doing what Obama wants her to do,” Trump told CNBC on Monday. “And I know that’s not supposed to be the way it is, but that’s why it’s low.”
In an interview last week with Reuters, Trump said the low rates had created a “false economy,” adding, “at some point the rates are going to have to change.”
What changed between May and today? Nothing. The Fed has the same policy of low interest rates that Trump gushed over just four months ago. They last voted to raise rates in December 2015, the first time in nearly a decade, although there’s speculation among analysts that they could raise them this month.
Donald says he would raise interest rates.
Image note: Republican presidential nominee Donald Trump departs from a campaign event at Trump Doral golf course in Miami, Florida, 27 July 2016. (Photo: Reuters/Carlo Allegri)
Benen, Steve. “Add the economy to the list of Trump’s conspiracy theories”. msnbc. 13 September 2016.
Sarlin, Benjy. “Trump Says Fed Policy He Supported is Now a Partisan Conspiracy”. NBC News. 12 September 2016.