Douglas Elliman Chair raised money for President Trump
What happened: President Trump said that Fed Chairman Jerome Powell has disappointed him by gradually raising interest rates. The President is worried that additional rate increases could slow economic growth, which is on track to reach 3 percent this year.
Around 60 people attended… Guests included Steve Witkoff, Stanley Chera, John Catsimatidis Jr., Todd Ricketts, Wilbur Ross, Jared Kushner, and Ivanka Trump.
Trump supplied the comedy in the humidity… He joked that Lorber could have afforded better air conditioning for the dinner, which took place in a tent in his yard, according to the NYTimes.
What comes next: The Fed operates independently from the executive branch, and is still expected to raise rates two more times this year. The Fed’s benchmark interest rate now sits in the range of 1.75 to 2 percent.