Recent months have seen the ebb and flow of a certain pattern: US President Donald Trump will take some objectively harmful action to the US economy, and the markets will crash. Seeing this, Trump has turned to Jerome Powell, chair of the Federal Reserve, and now demands he lower the Fed Funds Rate — the rate at which the Fed lends money to banks. And the steely eyed Powell will say “No.”
Trump wants to lower rates because doing so is an effective cash injection into the United States…
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