Former Fed Vice Chair Kohn backs rate cut, rejects Dudley suggestion to foil Trump

Former Fed Vice Chair Donald Kohn told CNBC that the central bank should cut interest rates next week.

The Federal Reserve should cut interest rates next week and not listen to a suggestion that it consider keeping rates level to harm President Donald Trump's re-election chances, former central bank Vice Chairman Donald Kohn said Tuesday.and lower its benchmark overnight lending rate by 25 basis points at its Sept. 17-18 meeting.

However, he said he's not sure how far the policymaking Federal Open Market Committee should go beyond that. "So I think buying a bit more insurance is the right thing to do at this meeting. What I'm not so sure about is where they will be going after that," he said.

The fed should not cut rates to save trumps ass

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