Bob Woodward book: Gary Cohn was ‘astounded at Trump’s lack of basic understanding’ about the federal debt
During the meeting at Trump Tower in November 2016, Cohn touched on a series of economic issues, including the Federal Reserve. Cohn told Trump that the Fed would most likely increase interest rates during his term. Trump then offered an idea of how to deal with the rising rates.
“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump said, according to the book.
But according to Woodward, Cohn’s message did not seem to connect.
“It was clear that Trump did not understand the way the US government debt cycle balance sheet worked,” Woodward wrote.
(click here to continue reading Bob Woodward book: Trump confused about federal debt, printing money – INSIDER.)
At this point, can anyone seriously be astounded at Trump’s lack of knowledge about any subject?