Guys. I have shocking news to share with you. I hope you are sitting down.
Here goes: it looks like Donald Trump's desire to see interest rates drop may be more about his personal finances than helping any other American citizens.
I, for one, am completely surprised. He is such a giving, empathetic, selfless person. Of course he is pushing for change just to help all of America, right? IT CANNOT BE JUST FOR HIM!
Here is the story: Donald Trump has *hundreds of millions dollars* worth of loans on hotels and resorts that are under variable rates (versus fixed rate), which means if interest rates go down, the amount he pays goes down as well. In fact, the Washington Post reports that in the 5 years before he took office (literally), he took out over $360 million in loans from Deutsche Bank for his DC hotel, a property in Chicago and his Doral golf resort in Florida. If the rates go down, he could save millions of dollars per year.
While Donald Trump says he has completely separated from his businesses, his kids, Uday and Qusay, still run them. This means his government policies still affect his family. Not much distance, eh?
The White House swears that the push to lower interest rates has nothing to do with personal interests. Rather, they say, it is to push consumers to spend more money, encourage home ownership and auto sales. Inserts SureJanDotGif here.
The White House and the Trump Organization did not respond to requests for comment by the Washington Post.