Former president vows to appoint someone who will slash interest rates to help refinance $9T in national debt
President Donald Trump said he would welcome anyone but Federal Reserve Chairman Jerome Powell to lower interest rates as the U.S. is faced with having to refinance about $9 trillion in debt.
Fox News’ “Sunday Morning Futures” host Maria Bartiromo sat down with Trump for an interview that aired Sunday, when she asked the president how he was going to deal with the $9 trillion in debt that is due this year.
Trump said he was going to refinance the $9 trillion as short-term debt because “we have a stupid person” at the Federal Reserve.
The president explained his desire for the Federal Reserve to lower interest rates so the U.S. does not have to pay for 10 years of debt at a higher rate.