December 23, 2018
WAIT, I COST ME WHAT?:
Fed Rate Hikes May Have Already Cost Trump $5 Million a Year (Shahien Nasiripour, December 14, 2018, Bloomberg)
Every time the Fed raises rates, Trump's payments on some $340 million in variable-rate loans go up. Since his January 2017 inauguration, the Fed's steady rate hikes may have added a cumulative $5.1 million a year to his debt service costs, according to a Bloomberg News analysis of the president's financial disclosures and property records.If Federal Reserve officials raise interest rates by another quarter percentage point when they meet Dec. 18-19, as investors expect, make that $6 million per year.
Posted by Orrin Judd at December 23, 2018 10:27 AM