Written by Jaki Treehorn

Friday, 20 July 2018

image for Financial Press Shocked that Government Official Who has 2.5 Billion in Debt Wants Lower Interest Rates
Government Official Once Described Himself as the "King of Debt".

New York - A government official, whose private company owes banks and investors over 2.5 billion dollars through 500 private partnerships, broke long standing protocol and criticized the Federal Reserve Board for raising interest rates, rattling business news commentators across the country.

The Federal Reserve Board has long been considered independent from pressure which might be applied to it by politicians and government officials in order to influence it's decision making process, but instead it establishes and pursues appropriate monetary policies necessary to meet targets in economic growth and inflation.

Observers wondered aloud why the government official (pictured alongside Federal Reserve Chairman Jerome Powell) might want to interfere with the work of the Fed. "It doesn't make any sense, interest rates are still below the inflation rate, there appears to be no reason why this particular office holder would question the current Federal Reserve Board's policy of normalizing interest rates, the economy is booming", declared one observer at CNBC.

The story above is a satire or parody. It is entirely fictitious.

Do you dream of being a comedy news writer? Click here to be a writer!

Mailing List

Get Spoof News in your email inbox!

Go to top
108 readers are online right now!
Globey, The Spoof's mascot

We use cookies to give you the best experience, this includes cookies from third party websites and advertisers.

Continue ? Find out more