Trump Again Attacks Fed, Says Stock Market Would Be '5,000 To 10,000' Points Higher Without Interest Rate Hikes
- 5 years ago
President Trump again attacked the Fed on Sunday.
President Trump on Sunday again attacked the Federal Reserve.
"If the Fed had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%...with almost no inflation. Quantitative tightening was a killer, should have done the exact opposite!" Trump wrote on Twitter.
About a week ago, Trump had tweeted: "Despite the unnecessary and destructive actions taken by the Fed, the Economy is looking very strong, the China and USMCA deals are moving along nicely, there is little or no Inflation, and USA optimism is very high!" Trump has been at odds with the Federal Reserve over hikes in interest rates in the past months.
However, the trend appears to be changing, as Politico notes the Fed has recently "lowered its forecast for growth in 2019 to 2.1 percent, citing trade tensions and slowing global growth." Larry Kudlow, the White House chief economic adviser, has called for an immediate rate decrease.
President Trump on Sunday again attacked the Federal Reserve.
"If the Fed had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%...with almost no inflation. Quantitative tightening was a killer, should have done the exact opposite!" Trump wrote on Twitter.
About a week ago, Trump had tweeted: "Despite the unnecessary and destructive actions taken by the Fed, the Economy is looking very strong, the China and USMCA deals are moving along nicely, there is little or no Inflation, and USA optimism is very high!" Trump has been at odds with the Federal Reserve over hikes in interest rates in the past months.
However, the trend appears to be changing, as Politico notes the Fed has recently "lowered its forecast for growth in 2019 to 2.1 percent, citing trade tensions and slowing global growth." Larry Kudlow, the White House chief economic adviser, has called for an immediate rate decrease.