President Donald Trump touted the country's "booming" economy in the wake of a bullish fed report, tweeting that "Democrats wished they had voted for the tax cuts."
Fed chairman Jerome Powell gave an upbeat report on the economy Tuesday, testifying that an era of stable growth is in the cards.
"With appropriate monetary policy, the job market will remain strong and inflation will stay near 2 percent over the next several years,” Powell said.
However, Powell doesn't share the president's view on the "new and greatly improved trade deals."
"In general, countries that have remained open to trade, that haven’t erected barriers including tariffs, have grown faster. They’ve had higher incomes, higher productivity,” Powell said. “Countries that have gone in a more protectionist direction have done worse.”
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