Skip to main content

Trump Accuses Fed of Keeping Rates Low to Help Obama

Phil Hall
Nov 03, 2015
President Trump used a White House meeting with community bank leaders to repeat his commitment to rolling back some of the Dodd-Frank Act’s regulations

Donald Trump has accused the Federal Reserve of following White House instructions to keep interest rates at historical lows.

At a press conference today, the Republican presidential hopeful and real estate mogul characterized the central bank’s refusal to raise rates as an effort to help President Obama’s legacy.

“In my opinion, he wants to get out of office, because we're in a bubble,” said Trump. “When those rates are raised, a lot of bad things are going to happen.”

Trump added that Fed Chairwoman Janet Yellen was specifically taking her orders from the Oval Office.

“In my opinion, Janet Yellen is highly political and she's not raising rates for a very specific reason: because Obama told her not to because he wants to be out playing golf in a year from now and he wants to be doing other things,” Trump stated. “And he doesn't want to see another bubble burst during his administration."

At a press briefing later in the day, White House spokesman Josh Earnest rejected Trump's charge and insisted that the Obama administration “goes to great lengths” to stay out of the Federal Reserve’s policy making decisions.

Published
Nov 03, 2015
Guild Mortgage Announces Medical Professional Mortgage Program

Guild Mortgage introduced a new mortgage product to help medical professionals buy their first home with no down payment.

Industry News
Oct 27, 2021
Mortgage Coach And HomeBinder Partner On New Integration For Homeowners

Mortgage Coach announced a new integration with HomeBinder aimed to help homeowners stay connected with their lenders.

Tech
Oct 27, 2021
Non-QM Lender Angel Oak Appoints David Raju As Group CIO

Firm continues to seek ways to optimize data and improve technology capabilities.

Non-QM
Oct 27, 2021
Evergrande Steadily Repays Debt While Taking On New Risk

Evergrande Chairman Hui Ka Yan has ambitious plans, signaling last Friday that the firm wants to move away from housing and focus on making electric cars. 

Industry News
Oct 26, 2021
Planet Home Lending Reports Q3 Gains In Asset Management, Servicing And Originations

The Planet Home Financial Group, LLC, parent company of Planet Home Lending, LLC and Planet Management Group, LLC reported steady growth across its servicing, correspondent and private-client channels.

Industry News
Oct 26, 2021
CFPB, DOJ And OCC Hit Trustmark National Bank For 'Deliberate' Redlining

The Consumer Financial Protection Bureau and U.S. Department of Justice, in conjunction with the Office of the Comptroller of the Currency are taking action against Trustmark National Bank for alleged redlining violations.

Industry News
Oct 25, 2021