The co-founder of Home Depot warns against “frightening” American debt levels and economic risks
The co-founder of Home Depot, Ken Langone, assesses the state of the American economy and addresses the current political landscape during an exclusive interview on the “special report”.
A self-proclaimed “free trade guy”, the co-founder of Home Depot, Ken Langone, signaled the warning flag on the American markets and the economy due to a “scary” indicator.
“I really believe, and I hope that Washington will hear this, that we must be aware of the importance of our status in the global economy and the world markets, because if we are waste this, we are in trouble,” Langone told Fox News on “Special Report” on Tuesday.
“Look at the amount of the debt we increase each year,” he continued. “What is it today? Thirty-six, thirty-seven [trillion dollars]increasing one Billion per year in interest alone. It’s frightening. “”
The shares checked on Wednesday as investors await the last interest rate decision of the federal reserve.
National debt tracker: American taxpayers (you) are now hung for 36,214,669,844,058.55 $ 6/06/25
The industrial average of Dow Jones increased by more than 20 points, or 0.07%, while the composite S&P 500 and NASDAQ increased by 0.1%and 0.2%respectively.
The Fed will announce its last decision on the advisability of reducing interest rates on Wednesday. The central bank and President Jerome Powell faced an increasing political pressure from the Trump administration to reduce rates to stimulate the economy.
Langone has competed against any rate drop at the moment.
Senator Ron Johnson, R-Wis., Unpacking efforts to reduce government waste and expenses on “the Clarman’s countdown”.
“Do not forget, we now have this Iranian thing to accompany the prices. I mean, you go up and go down the list. And I think that people have to look so much, they go to the touch. I think people become cautious. And the facts and numbers that have come out today have indicated that things slow down,” Langone practiced.
The Fed should largely leave interest rates that are unchanged this week, which would make four consecutive meetings in which the central bank left unchanged rates. The rate of federal reference funds has increased from 4.25% to 4.5% since the last drop in the Fed interest rate in December.
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The editor -in -chief of the Grant interest rate observer, Jim Grant, discusses the obstacles to which the Fed faces after the drop in the rate of 50 base points on “earning money”.
“Four weeks ago, we could not float a 20-year connection. They were impartial. This is a dangerous signal. This is the start,” said the co-founder of Home Depot. “It should make us say:” Hey, wait a minute. “When the integrity of our debt is subject to the question, the next thing is your motto.”
“Now, I don’t suggest that we have to go around with a tin cup, because we don’t do it,” said Langone. “But I think it’s time to get a balance here.”
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Fox Business staff contributed to this report.
