Tags: donald trump | david malpass | fed | economy

Trump Adviser David Malpass: Stop Talking Fed Overhaul, Focus on Economy

Trump Adviser David Malpass: Stop Talking Fed Overhaul, Focus on Economy

(Dollar Photo Club)

Thursday, 10 November 2016 12:30 PM EST

A senior economic adviser to President-elect Donald Trump stressed economic growth over discussion of Federal Reserve policies on Thursday, citing the need for small-business job growth through better regulation, energy policy and tax cuts.

"I think people should move on from the Fed and talk more about the other policies that will change rather quickly," adviser David Malpass said in an interview with CNBC.

Malpass, a Treasury and State Department official during the presidential administrations of Ronald Reagan and George H.W. Bush, said Trump's focus will be on small-business job growth, achieved through better regulation, tax cuts and tax simplification.

"The Fed is independent," he said. "The issue, though, is their performance has not been good. We've had a really slow-growth economy. The question is will they look inside and see their part of that problem."

The Fed is one of many parts of government that have been slowing the U.S. growth rate, Malpass said.

Malpass did not comment on possible Cabinet picks by Trump. He said the New York real estate magnate has stressed he wants a business-like Cabinet and has given running mate Mike Pence more influence in helping make personnel decisions.

Malpass deflected questions about whether he is being considered as a possible head of the Federal Reserve when Janet Yellen's term expires in February 2018.

"I don't think we should be talking about the Fed today," he said. "The Fed is doing what it's doing. It's data dependent, it's going to look for a rate hike in December based on whether we're going to grow faster. All the signs are that the U.S. can begin to accelerate and I think that's wonderful for the country."

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
A senior economic adviser to President-elect Donald Trumpstressed economic growth over discussion of Federal Reserve policies on Thursday, citing the need for small-business job growth through better regulation, energy policy and tax cuts.
donald trump, david malpass, fed, economy
279
2016-30-10
Thursday, 10 November 2016 12:30 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved