US President Donald Trump in the last minutes argued that the Federal Reserve should get the policy rate down to zero or even lower and should then start to refinance the debt.
“Interest cost could be brought way down, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet,” Trump tweeted out.
“The USA should always be paying the lowest rate. No Inflation! It is only the naïveté of Jay Powell and the Federal Reserve that doesn’t allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of boneheads.”
The market ignored Trump’s remarks and the US Dollar Index was last up 0.2% on the day at 98.52.