Trump Wants the Fed to Put Money in His Pocket. His Trade War Is Helping
It’s no secret Trump is profiting from his office. In the latest corrupt gyration of this absurdly corrupt presidency, Trump floated the idea on Monday that the next G7 meeting — of leaders from the most powerful democracies the world — should be held at his very own Doral resort in Florida.
But what if Trump is doing something much bigger than just (“just”) sending lucrative government business to his private luxury properties. What if he’s contorting the global economy to boost the bottom line of his business? In little noticed remarks earlier this month, Trump let slip that he has a profit motive in pushing the Fed — and his “enemy” Jerome Powell — to lower interest rates.
The Washington Post made clear over the weekend that Trump’s highly leveraged businesses could save millions in interest if the Fed continues to cut interest rates. Citing financial disclosures from before Trump took office, the paper reports Trump owed more than $360 million to Deutsche Bank for loans on four properties (including the Doral golf resort) on which he was paying a variable interest rate, pegged to the Fed’s.
In short, when the Fed raises rates it costs Trump millions, and when it cuts rates it puts money in his pockets.
https://www.rollingstone.com/politics/politics-news/trump-federal-reserve-interest-rates-profit-trade-war-877268/