Low Interest Rates Are Hurting Poor, Carson SaysMadeline McMahon
Federal Reserve is “irresponsibly printing money” and low interest rates are “hurting the poor and middle class” since putting money into savings account or buying bonds doesn’t help them, Republican presidential candidate Ben Carson says at National Press Club event.
- “I like Janet Yellen,” Carson says, adding that Fed chair is “a very decent person” and that “she’s trying very hard”
- U.S. has “put the Fed in a very difficult position right now because of the amount of debt that we’ve accumulated”
- Says “it’s very hard” for Fed to raise interest rates with such massive national debt
- U.S. is putting national debt “on the backs of our young people"; ‘‘here we are saying ‘let’s increase the debt some more. Let’s raise the debt ceiling some more’”
- Federal government employs too many people; 645 federal agencies an “absurd” amount
- Carson suggests 6-month hiatus on corporate taxes to repatriate overseas funds, predicts that would return as much as $2t to homefront and spur “immediate stimulus”