Trump pines for days of cheap money at fundraiser hosted by Howard Lorber

President criticized Fed chair for raising interest rates

New York /
Aug.August 21, 2018 08:35 AM

Howard Lorber, Donald Trump, and Howard Lorber’s House in Southampton (Credit: Getty Images and Google Maps)

At the Southampton fundraiser hosted by Howard Lorber Friday, President Trump lamented that his pick for Federal Reserve chair has raised interest rates.

Federal Reserve chairman Jerome Powell has raised rates five times over the span of Trump’s administration thus far, including twice this year.

Trump’s remarks to the private Republican donors at Lorber’s fundraiser are his most personal criticism of Powell’s policies to come out thus far, Bloomberg reported. Presidents normally avoid commenting on monetary policy out of respect for the Fed’s independence, according to the publication.

In July, Trump said he was “not thrilled” with the rate increases. He said during an interview Monday that other countries get help from their central banks during trade disputes with the U.S.

“During this period of time I should be given some help by the Fed. The other countries are accommodated,” he told Reuters.

Lorber’s fundraiser pulled in about $3 million for the Trump Victory Committee, which fills the coffers of the president’s re-election campaign and the GOP. There were about 60 guests at the event, including Jared Kushner, John Catsimatidis and his son, Chicago Cubs co-owner Todd Ricketts and Treasury Secretary Steven Mnuchin.

Lorber has donated at least $235,000 to the campaign committee since 2016. [Bloomberg] – Rich Bockmann


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