Trump: Fed Should Cut a Full Point
Posted By:Tom Brennan
If Federal Reserve Chairman Ben Bernanke were on The Celebrity Apprentice, he would have been the first to go, Donald Trump told Cramer Tuesday. Uncle Ben’s problem: He’s reacting to the market rather than leading it.
The billionaire and host of NBC’s The Apprentice said he was “shocked” interest rates haven’t been cut more aggressively. Trump called for a full-point reduction rather than the conservative quarter-point cuts Bernanke and gang have been implementing.
“We’re in a recession,” Trump declared. “The question is: How bad does it get?”
Criticism of the Fed has been growing as more and more economic data come in soft. (Read about the latest soft numbers here). With a possible interest-rate cut coming from the Fed's regular meeting Jan. 30, the rhetoric has been getting louder, particularly from those with business tied to the interest-rate sensitive building sector.
Housing may be collapsing in markets across the U.S., but Manhattan is still very profitable for Trump International. The Donald credited strong demand from Europe and Asia for the borough’s success, but “how long it continues I can’t tell you.”
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