Because he wants rates down. Why? Because he wants to accelerate economic growth and he needs to get the interest costs on the debt down. But here's the problem. And The Fed is between a rock and a hard place of their own making. The yellow line is the Fed's targeted personal consumption expenditures. That's their preferred inflation target. I don't know why you'd want 2% inflation a year, because over 10 years that just means we're devaluing our dollar by 20%. (1:03:30–1:03:36)
CLAIM
Asserts that the Federal Reserve is in a difficult situation due to its own actions.
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