Trump Wants to Slash Interest Rates By Half, But Fed Argues That Can Only Be Done In Emergencies

김동수 기자 / 기사승인 : 2019-09-10 17:03:17
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▲ [Photo source : Cliff via Flickr]

[스페셜경제= Dongsu Kim] The Trump administration has been trying to entice the Federal Reserve into controlling its rate hikes in favor of the government, but even now that the president is asking to slash half of the interest rates, the Fed only argues that doing such a thing would be meaningless in an already thriving economy.


According to a report by CNN Business, even economists are questioning this urgency from the Trump administration, and why, in its argument that slashing half the interest rates down would help the economy along, that would be necessary.


Already the United States economy is reaping the benefits of the all-time low rates of unemployment, and couple that with rising wages, the entire picture skews largely negative. But why? It wasn’t as though the Fed was keeping silent, in fact, it had even maintained itself as part of the conversation so much that it had even willingly taken hits from the president and sent some back in the process.


Which is why chief economist at Moody’s Analytics, Mark Zandi, wonders why the lowering of the interest rates would be necessary, and what was with the urgency behind it.


“Where is the emergency?” Zandi grapples. “There is no economic argument for cutting rates.”


Over at JPMorgan Funds, chief global strategist David Kelly even compared cutting back rates--even as the Fed had only really done that many times in the last decade “before and during the Great Recession”--would be like “firing blanks.”


If it was a pre-emptive strike to a yet-unexisting threat, the economists are still crying foul, as Zandi explains that if the Fed pushes through with what is essentially the Fed’s equivalent of a panic button, the resulting effects could just be self-fulfilling, putting the market in more danger.


"If the Fed's in panic mode, shouldn't we be? I'm going to batten down the hatches, hire less, spend less. It could become self-fulfilling." Zandi said.

트럼프, 금리 이자율 절반으로 인하 낮출 것 요구

[스페셜경제= 김동수 기자] 트럼프 정부는 그동안 연방준비제도이사회(FRB)를 정부에 유리한 고지를 차지하도록 유인해 왔으나 대통령이 금리 절반을 깎으라고 요구해 온 지금이라도 연준은 이미 번창하고 있는 경제에서 그런 일을 하는 것은 무의미하다는 주장만 하고 있다.

CNN 비즈니스 보고서에 따르면 경제학자들도 트럼프 행정부의 긴박성에 의문을 제기하고 있고, 금리를 절반으로 인하하는 것이 경제에 도움이 될 것이라는 주장에 대해서도 왜 그럴 필요가 있느냐고 반문하고 있다.

이미 미국 경제는 사상 최저의 실업률의 혜택을 얻고 있으며, 임금 상승과 함께 전체 상황은 대체로 부정적이다.

그래서 무디스 분석의 수석 경제학자 마크 잔디는 금리 인하가 왜 필요한지, 그리고 그 이면에 무엇이 절박했는지를 의아하게 생각한다.

JP모건 기금에서 수석 글로벌 전략가인 데이비드 켈리는 심지어 연방준비제도이사회가 지난 10년 동안 대침체 전에 여러 번 그렇게 했음에도 불구하고 금리 인하를 비교하기도 했다.  

[저작권자ⓒ 스페셜경제. 무단전재-재배포 금지]

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