Economics
Senate Banking Chairman Aligns With Trump on Fed Rate Cuts
- Crapo says interest rates put ‘dampening on the economy’
- Banking panel chief declines to comment on Trump’s Fed picks
Mike Crapo
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Senate Banking Chairman Mike Crapo said Tuesday that he thinks the Federal Reserve should cut interest rates to boost growth, aligning him with President Donald Trump and his latest choices for the Fed board, Stephen Moore and Herman Cain.
"I personally think that we’re at a point where they could be reduced a little bit now," the Idaho Republican said. "I just think that at their current level they are creating a little bit too much of a dampening on the economy."