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The Fed: Trump says Yellen keeps interest rates low because of White House pressure

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“Obviously political” Fed Chairwoman Yellen seen in a meeting with President Obama.

WASHINGTON (MarketWatch) — Republican presidential nominee Donald Trump said Monday that Federal Reserve Chairwoman Janet Yellen is keeping interest rates low because of political pressure from the Obama White House.

“She’s obviously political and she is doing what [President Barack] Obama wants her to do,” Trump said in an interview on CNBC. Trump predicted that the stock market SPX, +0.21% is going to “go way down” as soon as interest rates go up.

“I believe it is a false market because money is essentially free,” Trump said.

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