Forbes | Trump Ordered Cabinet Secretary To Pressure Fed Chair Jerome Powell @Forbes | Uploaded 1 month ago | Updated 2 hours ago
In 2018, Donald Trump was presiding over a booming economy—but he was unhappy. Seeking to prevent the economy from overheating, the Federal Reserve, led by Trump appointee Jerome Powell, was slowly raising interest rates. At one point, Trump apparently flipped out, calling Powell an “idiot” and ordering his commerce secretary Wilbur Ross to call the Fed chairman and get him to reverse course, Ross says in his autobiography that comes out next month.
Read the full story on Forbes: forbes.com/sites/kylemullins/2024/08/21/call-this-idiot-trump-ordered-cabinet-secretary-to-pressure-fed-chair-to-cut-rates
0:00 Introduction
0:16 The Economy In 2018
1:21 Trump's Call To Wilbur Ross
3:22 What Impact Did This Have?
4:17 Trump And Jerome Powell's Relationship
5:23 How Higher Interest Rates Would Have Effected Trump
7:27 Politicizing The Federal Reserve
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In 2018, Donald Trump was presiding over a booming economy—but he was unhappy. Seeking to prevent the economy from overheating, the Federal Reserve, led by Trump appointee Jerome Powell, was slowly raising interest rates. At one point, Trump apparently flipped out, calling Powell an “idiot” and ordering his commerce secretary Wilbur Ross to call the Fed chairman and get him to reverse course, Ross says in his autobiography that comes out next month.
Read the full story on Forbes: forbes.com/sites/kylemullins/2024/08/21/call-this-idiot-trump-ordered-cabinet-secretary-to-pressure-fed-chair-to-cut-rates
0:00 Introduction
0:16 The Economy In 2018
1:21 Trump's Call To Wilbur Ross
3:22 What Impact Did This Have?
4:17 Trump And Jerome Powell's Relationship
5:23 How Higher Interest Rates Would Have Effected Trump
7:27 Politicizing The Federal Reserve
Subscribe to FORBES: youtube.com/user/Forbes?sub_confirmation=1
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript
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More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
