From Donald Trump a kind of pedestrian, somewhat mangled, version of Austrian School Business Cycle Theory.
The Hill reports that in an interview, Trump accused Federal Reserve Chairn Janet Yellen of keeping interest rates low in order to shield Obama from having to leave office during a recession.
“She’s keeping the economy going, barely,” Trump said. “The reason they’re keeping the interest rate down is Obama doesn’t want to have a recession-slash-depression during his administration.”
“You know who gets hurt the most? People who practice the American dream and did what should have been the right way — the people that went through 40 years of their life and saved a hundred dollars every week [in the bank],” Trump said.
He paused, shaking his head before adding: “They worked all their lives to save and now what happens is they’re being forced into an inflated stock market and at some point they’ll get wiped out.”