With a pair of moves over the weekend, President Donald Trump signaled his intention to bully various institutions into providing lower interest rates for American consumers and the federal government.
First, Trump called for capping credit card interest rates at 10 percent in a Truth Social post on Friday. That was swiftly followed by news that the Justice Department was investigating Federal Reserve Chair Jerome Powell for misleading Congress about the cost of a renovation project—a move that seems like the most blatant yet by the administration to compel Powell to lower interest rates in accordance with Trump's wishes or resign his post.
