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Here’s one big reason why Trump is having a white-hot meltdown over the Fed not dropping interest rates

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President Donald Trump has a personal conflict-of-interest that may be impacting his decisions in his public feud with Federal Reserve Chair Jerome Powell.

“President Trump stands to save millions of dollars annually in interest on outstanding loans on his hotels and resorts if the Federal Reserve lowers rates as he has been demanding, according to public filings and financial experts,” The Washington Post reported Saturday.

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“In the five years before he became president, Trump borrowed more than $360 million via four loans from Deutsche Bank for his hotels in Washington, D.C., and Chicago, as well his 643-room Doral golf resort in South Florida,” the newspaper reported. “The payments on all four properties vary with interest rate changes, according to Trump’s official financial disclosures. That means he has already benefited from falling interest rates that were spurred in part by a cut the Federal Reserve announced in July, the first in more than a decade — and his payments could drop by millions of dollars more annually if the central bank grants Trump’s wish and further lowers short-term rates, experts said.”

Trump refused to disinvest himself from his businesses when he took office. The Trump Organization is currently being run by Donald Trump Jr. and Eric Trump.

“Since taking office, Trump has aggressively sought to lower interest rates and rejected the mostly hands-off approach other presidents have taken to the Fed, repeatedly blasting Chair Jerome H. Powell — whom Trump appointed to the post last year — for not falling in line,” The Post noted.

Trump could make millions off of the move.

“Beginning in 2012, Deutsche Bank provide Trump’s company with about $364 million in loans by working through the bank’s private wealth division, rather than through traditional commercial lending units, according to public loan documents. The borrowing was for two loans totaling $125 million to buy and renovate the Doral golf resort in Florida, a $170 million loan to renovate Washington’s Old Post Office Pavilion into a Trump hotel and a $69 million loan to refinance an existing Trump hotel in Chicago,” the newspaper noted.

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“Trump could save at least $600,000 and as much as $1.1 million annually on just the larger of the two Doral loans if the Fed made a percentage point reduction, depending on the loan agreement, according to Clifford Rossi, a professor at the University of Maryland’s business school,” The Post noted. “Even a quarter-point reduction, which most Wall Street investors now predict will occur in mid-September, could save Trump as much as $275,000 annually on that single Doral loan.”


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Trump openly solicits payment to US treasury for his ‘approval’ of TikTok sale – which he is forcing

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President Donald Trump says he is allowing Microsoft to purchase the U.S. assets of the popular Beijing-based TikTok social media video sharing app, in a sale Trump personally is forcing.

In discussing what he sees as the broad portions of an agreement the President used a real estate term to openly solicit the payment that would have to be made to the U.S. Treasury.

"I said a very substantial portion of that price is going to have to come into the U.S. Treasury of the United States, because we're making it possible for this deal to happen," Trump told reporters Monday afternoon.

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Andrew Cuomo rips Trump like never before: ‘This was the worst government blunder in modern history’

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Gov. Andrew Cuomo (D-NY) on Monday accused President Donald Trump of presiding over "the worse government blunder in modern history."

At his daily COVID-19 briefing, Cuomo said that it was time for the president to hit the "reset button" on his handling of the pandemic.

"If we don't tell the truth on the reset, COVID will never end," the New York governor explained. "It will ricochet across the country. It will just bounce back and forth."

"This was a colossal blunder -- how COVID was handled by this federal government," he continued. "Shame on all of you. Six months, lives lost. Hit the reset button, yes."

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Trump snaps at Jim Acosta for reminding him of coronavirus death toll: ‘Fake news CNN’

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President Donald Trump on Monday snapped at CNN's Jim Acosta when he reminded the president that the novel coronavirus so far has killed 155,000 Americans.

During a question-and-answer session with reporters, the president boasted that the United States had done an "amazing" job at handling the COVID-19 pandemic, at which point Acosta interrupted him and tried to ask him about the 155,000 people who have died from the disease in just five months.

"The U.S. has so many deaths," Acosta said.

"Hold it!" Trump replied.

"So many countries around the world..."

"Fake news CNN," he said. "Hold it. We have done a great job in this country. We haven't been given enough -- not me, Vice President Pence, the task force -- have not been given the kind of credit."

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