Trump says economy would take off like 'rocket ship' if Fed cut rates, ends tightening policy
President Donald Trump told reporters on the White House lawn on Friday that if the Federal Reserve cut interest rates then the U.S. economy would climb like"a rocket ship."
div > div.group > p:first-child"> "I think they should drop rates and get rid of quantitative tightening. You would see a rocket ship. Despite that we're doing very well," Trump said. Trump believes the Fed"really slowed us down" in terms of economic growth, saying that"there's no inflation." His comments comes as others in the White House have called for the Fed to cut interests rates by as much as 50 basis points.
Following the Fed's most recent meeting in March, the central bank decided to maintain interest rates and hold off on any further increases for now. As Trump's chief economic adviser Larry Kudlow did on Friday, Federal Reserve Chairman Jerome Powell highlighted the slowing global economy.But unlike the White House, the Fed did not conclude in March that slowing global growth means the bank should begin cutting rates.
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