Trump Lashes Out at Fed Chair Powell, Says 'Termination Cannot Come Fast Enough'
wsj.com
wsj.com
You don't adjust rates just because you want them to be lower, there's second order effects. I'd like them to be lower all the time, but there's consequences for that. Trump is going to keep making policy based off snap judgments, listen to nobody, and just keep digging economic holes.
You can… in Turkey (Türkiye); from 2021:
> Erdogan is openly averse to high interest rates, claiming high rates cause inflation, which stands in opposition to mainstream economic theory.
> He has pressured the central bank to keep rates low to fuel borrowing and growth. Critics say the independence of the central bank has been severely damaged through political pressure.
> Erdogan’s decree on Saturday appoints Sahap Kavcioglu as the new central bank head. Kavcioglu is a banking professor and a columnist in a pro-government newspaper where he has argued for low interest rates.
* https://www.aljazeera.com/news/2021/3/20/turkeys-erdogan-sac...
More recently in 2024:
> The first woman to lead the bank, Erkan began raising interest rates when she was appointed in June last year, launching a 180-degree pivot away from years of low rates under Erdogan that had sent inflation soaring and foreign investors fleeing.
* https://www.aljazeera.com/news/2024/2/3/turkey-appoints-fati...
In 2024 a court ruled that the President could not just fire central bank heads:
* https://www.brecorder.com/news/40306881/turkey-court-loosens...
* https://en.wikipedia.org/wiki/Jerome_Powell#Federal_Reserve_...
Trump apparently believes appointees are there to do what Trump communicates he wants done, and to take the blame if those things don't work out.