As Donald Trump ramps up efforts to control the Federal Reserve, investors worry he’ll use central bank tools to fix something that’s not supposed to be a central bank problem: America’s ballooning debt bills.
Trump said Tuesday he’s ready for a legal fight over his attempt to oust Fed Governor Lisa Cook, and looking forward to having a “majority” on the central bank’s board. That could advance the president’s campaign for lower interest rates, which he says will save the country “hundreds of billions.”
There are two main reasons why the government’s debt costs have soared lately: bigger budget ...
