The US media say Jerome Powell of the Federal Reserve, the US central bank, calls the enemy "red," and President Trump, who pressures the rate cuts, will receive millions of dollars in private profits annually.

The Washington Post announced that Trump had borrowed $ 360 million in four loans from Deutsche Bank for hotels in Washington, DC, and Doral Golf Resort in Florida for five years before he took office. .

The loans were floating at variable rates, but the Fed's cut in interest rates by 0.25 percentage points in 10 years and seven months after the financial crisis meant that President Trump had already gained.

President Trump has publicly pressured Powell to cut the benchmark rate because the Fed's tightening monetary policy is preventing economic growth.

On the 23rd, there was a controversy over Twitter attacking the Fed chairman of independence, writing on Powell and Poetry who was our greater enemy.

The federal funds rate, currently the US monetary policy rate, is between 2.00 and 2.25 percent, and Trump insists he must cut at least 1 percentage point.

While Trump's family's business is undertaken by his eldest son, Trump Jr. and his second son, Eric, he has been criticized for "conflicting interest" because he broke the liturgy and retained ownership.

Trump argues that if interest rates go down, more consumers will be able to buy homes and cars, businesses will build new factories as well as lower US commodity prices to help exports.

The Washington Post quoted experts and criticized Trump as a trade war against President Trump, not as interest rates, as a threat to the economy as interest rates fell to historically low levels.

As the market forecasts say, if the Fed cuts interest rates by 0.25 percentage points in September, President Trump said he would gain $ 275,000 a year on loans from golf resorts alone.

Bloomberg News said in an article today that the Federal Reserve would cut interest rates by more than $ 3 million annually if the Fed cuts interest rates by 1%.

Four former Fed Chairmen, Alan Greenspan and Ben Bernanke, in an unusually co-written article on the Wall Street Journal today, criticized the situation, saying the Fed should be free from political pressure and should not be forced out of office for political reasons.

(Photo = Getty Images Korea)