Trump: Low Interest Rates Are Great For Rich People Like Me, Bad For The Country


Donald Trump doubled down on his statement last week that the Federal Reserve's low interest rate policy has created a "false economy" He said that the Fed was protecting Obama's legacy by leaving interest rates at or near zero during his term, and dumping the economic mess that would come with raising them on "the new guy."

"Any increase at all will be a very, very small increase because they want to keep the market up so Obama goes out and let the new guy ... raise interest rates ... and watch what happens in the stock market," he said. "And you know the people who are hurt the most are people that saved all their lives, and thought they were going to live off the interest. Those people are getting absolutely creamed."

Trump said that for his own business is real estate, he "loves low interest rates," but average Americans are hurt by it.

"The ones who did it right — they saved their money [and] they cut down on their mortgages, ... and now they're practically getting zero interest on the money," Trump said. "Those people have really been -- you could almost say discriminated against."

"I don't think Janet Yellen is making her decisions based on trying to help Obama or Clinton. I think they have a view that the world economy is weak enough that it's not a great time to raise rates. I don't happen to share that view, but I don't think this is political," he told CNBC's "Squawk on the Street" on Monday.

Trump said: "I love low interest rates," but for the good of the nation, rates should be higher.
"If I refinance something, I can get money for almost nothing," Trump said. "I don't think it is going to happen... because [Obama] wants to play golf for the rest of his life after January," Trump added.

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