PoliticsDonald Trump Mocked for Saying He 'Really Understands' Interest Rates After Being a 'Bankrupt Casino Owner'
Donald Trump slammed Federal Reserve Chair Jerome Powell during his Tuesday, April 29, rally.
Donald Trump became a laughing stock after his recent rant about interest rates went viral.
During the president's rally on Tuesday, April 29, Trump claimed to know better about the matter than Federal Reserve Chair Jerome Powell while celebrating his first 100 days in office at a rally at Macomb Community College in Michigan — prompting critics to remind the businessman about his failed Atlantic City casinos filing for bankruptcy on several occasions.
The president claimed to know more about interest rates than Federal Reserve Chair Jerome Powell.
"Mortgage rates are actually down slightly even though I have a guy in the fed that I'm not a huge fan of," Trump told a crowd of supporters on Tuesday without mentioning Powell by name. "He should reduce interest rates."
The POTUS went on to insist he "understands interest rates better than him" since he's "had to really use interest rates" in the past.
Donald Trump was mocked as critics brought up his past casino bankruptcies.
"We should have interest rates go down, it would be positive. But it's not gonna matter that much because ultimately what we're creating has much more to do with other things than it does pure interest rates," he alleged. "But it would be nice for people wanting to buy homes and things."
Critics couldn't help but laugh at Trump's speech while citing his history of bankruptcy as a business owner.
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"He talks interest rates like he talks policy — loud, wrong and straight out of a bankrupt casino owner's playbook," one hater snubbed after a video of the president's words went viral on X, as another added: "He had a better grasp of interest rates than anyone else, which led him to bankrupt several companies and casinos."
"The problem with Trump’s shrinking economy and rising prices — is adjusting interest rates either way is a problem. Stagflation," a third individual alleged, while a fourth noted: "Trump knows more about bankruptcy, that's for sure."
The president's Trump Taj Mahal casino and several other Atlantic City and NYC properties went bankrupt during the 1990s and 2000s.
Meanwhile, a fifth person mocked: "Trump used interest rates the way a drowning man uses water. Doesn’t mean he knows how to manage it."
When it comes to the economy and plummeting stock market, however, Trump still continues to blame former President Joe Biden.
Donald Trump blamed the country's economic crisis on former President Joe Biden.
"This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th," the Republican politician argued via Truth Social on Wednesday, April 30. "Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden 'Overhang.'"
As the controversial leader continues to push his tariff policies — which he, for the most part, put on a 90-day pause last month — Trump remained convinced the state of the country's finances has "NOTHING TO DO WITH" his imposed taxes on imported goods and "only to do with" Biden's apparent damage to the economy.
"When the boom begins, it will be like no other. BE PATIENT!!!" Trump begged.
