Trump’s 3% Mortgage Rate Promise: A Recipe for Broken Promises and Economic Chaos
Trump’s first broken promise will be his promise of 3% mortgage rates. It’s a promise that simply can’t be kept, no matter how much he wants to. Getting interest rates down to 3% would require the Federal Reserve to purchase trillions of dollars in debt, which is unlikely to happen. The Fed is an independent entity, and the government doesn’t have the power to tell them what to do. The only way the government could influence interest rates is by balancing the budget, raising taxes, and cutting spending, which is not something his supporters would be happy about.
There’s a good chance that his supporters will begin to scapegoat certain demographics, like migrants, and ramp up the culture war to distract from his broken promises.… Continue reading
John Q. Hosedrinker