In 2018, Donald Trump was presiding over a booming economy—but he was unhappy. Seeking to prevent the economy from overheating, the Federal Reserve, led by Trump appointee Jerome Powell, was slowly raising interest rates. At one point, Trump apparently flipped out, calling Powell an “idiot” and ordering his commerce secretary Wilbur Ross to call the Fed chairman and get him to reverse course, Ross says in his autobiography that comes out next month.
Read the full story on Forbes: https://www.forbes.com/sites/kylemullins/2024/08/21/call-this-idiot-trump-ordered-cabinet-secretary-to-pressure-fed-chair-to-cut-rates/
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