Sen. John Cornyn said Friday that the clash between President Donald Trump and the Federal Reserve is “a familiar debate,” due to the administration’s desire to see lower interest rates and the central bank’s need to keep inflation low.
“I think what the president would like and what I would like is to see the Federal Reserve take its foot off the brake of the economy so the economy can grow a little faster,” the Texas Republican told Newsmax’s “Newsline.” “Obviously, we’re still dealing with the consequences of 40-year high inflation because of all the reckless spending by the Biden administration. Everything is roughly 20% or more higher in cost. It’s a silent tax on the American people.
“This is a familiar, if you look back at history, a familiar debate between an administration which would always like to see interest rates lower, and a Federal Reserve that’s trying to figure out how do we keep the specter of inflation from coming back,” he added.
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