No wonder the White House wants Warsh to cut: A 1% Fed rate hike costs the Treasury an extra $95 billion a year in national debt interest

There are many—none particularly surprising—reasons politicians and policymakers push central banks for a lower base interest rate. It makes borrowing cheaper and stimulates the economy, potentially leading to more jobs and home purchases. It also, conveniently, makes the government’s own borrowing costs cheaper. While leaders the world over have lobbied for lower base rates for these reasons, none have done quite so forcefully as President Donald Trump and his team: First, going to extraordinary lengths—including personal insults and a criminal investigation—against previous Fed chairman Jerome Powell, and now the broader Federal Open Market Committee (FOMC) led by new chairman Kevin…

Source: Fortune Crypto