Trump Privately Pushing 1% Interest Rates As CPI Hits 4.2%

What was said

"I'd like to see lower interest rates because each point— think of this— is $600, $100 billion. There is no reason to raise interest rates. We built the country by doing great and having rates low. What they do is when they raise rates, they try and kill success. I don't want to kill success. We should actually lower rates."

President Trump stated on Air Force One that he wants to see interest rates cut dramatically, revealing that his pick for Fed Chair Kevin Walsh has called for slashing the benchmark rate to 1% or lower, even as CPI inflation reached 4.2%. Trump repeatedly criticized Jerome Powell as a moron and numbskull for failing to cut rates quickly enough, putting significant political pressure on the Federal Reserve as midterm elections approach.