OPINION:
In my entire life, I’ve never seen a U.S. president fight as ferociously as President Trump has to bring peace and prosperity to the country and world.
On the foreign policy side, Mr. Trump is simultaneously pressuring Vladimir Putin and Volodymyr Zelenskyy to end the Russia-Ukraine war. On the domestic side, he is pressuring Federal Reserve Chair Jerome Powell to lower interest rates.
Besides an occasional golf outing, does this man ever take a break and relax?
The public battle between Messrs. Trump and Powell to lower interest rates has been going on now since at least March. It has escalated to the point where the president is openly saying he wants to fire Mr. Powell, who he claims has “serious mental problems.”
Here are the facts: After four years of the torturous Biden administration, which made every decision counter to U.S. interests, the 3-point interest rate reduction Mr. Trump has promised would immediately slash $936 out of my mortgage payment. With some money management maneuvers, I could easily refinance at a pre-pandemic interest rate of perhaps 3.5% and absorb some legacy bills into it that ultimately could reduce my monthly break-even point by at least $1,500.
That $1,500-per-month savings times 12 months equals $18,000 per year in savings on the “cost of money.” That equates to getting a pretax $30,000 annual raise.
The Trump administration needs to blitz the airwaves that this is what will happen once Mr. Powell’s term expires in May. I suggest establishing a Super Bowl kickoff-like electronic clock counting down the seconds to his May 15, noon departure to alert citizens that better days are just ahead.
This is what President Trump is relentlessly fighting for: ending foreign wars that didn’t start on his watch and restoring a good standard of living to our beleaguered citizens. Isn’t that the primary job of the leader of the free world?
EUGENE R. DUNN
Glen Burnie, Maryland
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