CNBC Host Shoots Down Speaker Johnson's Calls For Interest Rates To Be Lowered
Trump lickspittle House Speaker Mike Johnson’s flawed logic on why Fed Chair Jerome Powell should lower interest rates was even too much for the Trump lickspittle interviewing him… CNBC’s Joe Kernan.
Kernan should have told Johnson that the economy is not “hot” and brought up Trump’s inflationary, illegal, on-again, off-again tariffs, but he did at least attempt to knock down Johnson’s flawed logic on why the Fed Chair should lower interest rates right now when Kernan asked him whether he thought Trump should try to fire Powell.
“Mr. Speaker, do you think that Jay Powell is going to be around until May?” host Joe Kernen asked Johnson. “Do you think he should be around in May?”
Johnson responded by saying he had no idea and repeated Trump’s call for lower interest rates. In response, Kernen and co-host Melissa Lee explained that cutting rates would likely lead to inflation and an economy that’s “too hot”:
JOHNSON: I’m as anxious to see how that plays out as you are. I will tell you that the sentiment here, certainly my opinion is that we should reduce interest rates. The American economy is hot, and we have so many good things going on. We’re delivering over and over, the Republican majority here, for the American people. Not just the one big beautiful bill, not just with the rescission’s package that we passed last night, clawing back $9 billion of wasted taxpayer funds.
KERNEN: If it’s too hot, you don’t wanna cut rates!
LEE: If it’s hot, there will be inflation, Mr. Speaker.
KERNEN: Right, if it’s too hot, maybe you don’t want to cut.
Johnson replied by saying rates should be lowered to make “large-ticket items” such as homes and automobiles more enticing to prospective buyers, who are currently facing high borrowing rates.
“I don’t say slash interest rates, but do something that’s meaningful to get that humming again because that will last, or have a lasting effect,” the speaker said. “And if you combine that with the other things that are happening, I think we’d have the greatest economy in the history of the world.”
Their big giant turd of a bill is going to damage our economy, along with these mass deportations, along with the rescission’s package, along with Trump’s tariffs, but Kernan just nodded along with Johnson’s nonsense.
They all also know it will damage the economy if Trump illegally fires Powell. They’re all still too afraid of Trump to speak up.