Trump: Fed keeping interest rates low to help Obama

Staff Writer
Columbus CEO

NEW YORK (AP) — Republican presidential candidate Donald Trump says the Federal Reserve is keeping interest rates low at the behest of President Barack Obama, a charge the White House disputes.

Speaking during a news conference Tuesday to mark the publication of his new book, Trump accused Obama of telling Fed Chair Janet Yellen not to raise rates to avoid bursting an economic bubble on his watch.

Trump adds that "a lot of bad things" are going to happen or are potentially going to happen when rates are raised.

White House spokesman Josh Earnest insists that the Fed acts independently, saying that the administration "goes to great lengths" to ensure that the Fed can make decisions solely on the economy's interests and to prevent those decisions from being influenced or even tainted by politics.