Senator Marshall: Interest Rates Need to Come Down
Senator Marshall Joins Fox Business to Discuss Interest Rates and Trade Deals
Washington – On Thursday, U.S. Senator Roger Marshall, M.D. (R-Kansas), joined Fox Business to discuss the Federal Reserve’s refusal to lower interest rates, and how the President’s trade strategy isn’t harming Americans but will get us leverage on our geo-political rivals.
Click HERE or on the image above to watch Senator Marshall’s full interview
On the Federal Reserve not raising interest rates:
“Well, I wasn’t surprised, because there’s a reason that President Trump calls him Jerome ‘Too Late’ Powell. Let’s go back to March of 2021, and Jerome Powell says inflation is going to be transitory. It’s 18 months later, and it’s just starting to peak, and it’s not a couple months after that before it starts coming down. So, he is indeed always too late.
“And let me put an exclamation point behind what President Trump is saying. To that average Kansas farmer back home, they have an operation loan of a million dollars. We saw interest rates on those loans go from 2% to 9% and that’s what caused a record drop in net farm income. So, he’s right. Every point matters. And I’m not saying we should drop at two or three points, but dropping at a quarter point or a half point, come on. I think that the economy would dictate that. Now we don’t know what’s holding up Jay Powell, except he’s always too late.”
On the real impact of the trade deals President Trump has secured:
“Well, I’m going to trust Michelle Bowman, of course. She’s from Council Grove, Kansas, but let’s just think about this for a second. Of all the goods that Americans consume, only about 11% of them are imported. Only 11%. So, let’s just suppose there’s a 10% tariff on 11% of what we consume. Well, my little math says that’s going to be a 1.1% increase, assuming that’s all passed along to the consumer, and you know, it’s not going to. So, I think that these tariffs could cause a one-time hit of one or 2%, but I think the manufacturers are going to absorb a lot of that. The wholesalers are going to absorb a lot of that as well.
“And meanwhile, we’re trying to balance this trillion-dollar trade deficit. So, I think President Trump is right on task. Look at what he’s doing; Cambodia and Thailand today, he’s surrounded China. He’s got Indonesia done, Japan, Australia, Vietnam, the Philippines, [and] South Korea. So, he’s going to push China. They’ve got till August. The 12th is their deadline, I believe. So, President Trump is doing a good job.”
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Contact: Payton Fuller
