LETTER: Siding with Trump over Powell
I’m on Donald Trump’s side with his economics and politics — not the side of Fed chief Jerome Powell. Mr. Trump has the Midas touch: Everything he touches turns to gold. Why? Simple. In the past, when the price of houses go up (as now) mortgage interest rates go down so people can afford them. Not now. Both are through the roof.
CNN reported a Wall Street Journal poll recently that the Democrats are at their lowest approval rating in history. If the Federal Reserve lowers interest rates. the housing sector, which bolsters all others in the economy, will go up. What’s wrong with that? Isn’t that part of the mission of Mr. Powell and the Federal Reserve?