THIS is the ONLY REASON Donald Trump keeps whining about the Federal Reserve and its chairman Jerome Powell. From 2012-2015 Trump took out $340 million in variable-rate loans from Deutsch Bank. Every time the Fed raises rates, Trump’s loan payments go up. That’s how variable-rate loans work, but Trump is now President and wants to change the rules to save himself money. The Federal Reserve is NOT supposed to work solely for the interests of the President.
President Donald Trump has repeatedly attacked Federal Reserve Chairman Jerome Powell’s interest-rate increases as a drag on U.S. economic growth. They’re also cutting into his own fortune.