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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.

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“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.

“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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Internet fears Trump’s ‘locked and loaded’ tweet about oil field bomb means he’s gearing up for war with Iran

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the largest U.S. oil producer can be brought to its knees with a drone carrying a bomb. President Donald Trump responded to intelligence that the drone didn't originate in Yemen, but rather from Iraq or Iran, by saying he was "locked and loaded."

"Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!" Trump tweeted Sunday.

https://twitter.com/realDonaldTrump/status/1173368423381962752

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3 out of 9 companies in one state have filed for bankruptcy since Trump promised to ‘bring back coal’

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Donald Trump in coal hard hat thumbs up

President Donald Trump's promises to coal miners have fallen along with his other broken campaign promises. Another state is facing the harsh reality that Trump is not riding in on a white horse to save them.

According to Axios, three out of the nine coal companies in the Powder River Basin in northeastern Wyoming have filed for bankruptcy and another two companies are consolidating. Kentucky coal miners have been protesting Blackjewl, which filed for bankruptcy in July, withdrawing payroll dollars from miners' accounts. Little has been heard about the Wyoming workers as those companies crumble, however.

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Why you should sell your house now — and not wait for the climate to change

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Cities across the United States are already seeing the impacts of climate change. Sea levels are on the rise in Miami, Florida, where ocean waters creep into the streets, even when it isn't raining. Massive wildfires have taken out whole neighborhoods in California and in Alaska, about 2.5 million acres have burned since July 3. Wildfires there are getting worse, according to experts.

The problem of climate change has reached a dangerous level for some homeowners in areas that are no longer insurable. In Miami, for example, the "street-level" is now considered the basement and insurers are dropping coverage for basements. According to the Daily Beast, at least 340,000 California homeowners lost their property insurance coverage between 2015 and 2018 because the wildfires are getting worse and companies don't want to pay out when homes are destroyed.

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