Tags: Trump Administration | trump | federal reserve | economy | growth

Trump: US Economy Solid Despite Fed Policies Hindering Growth

(AFP/Getty Images)

By    |   Friday, 22 March 2019 07:09 AM

The world's economy is slowing, but the United States' isn't, despite Federal Reserve policies that have hindered growth, President Donald Trump said in an interview airing Friday.

"If we didn't have somebody that would raise interest rates and do quantitative tightening, we would have been at over 4 [percent] instead of at 3.1," Trump told Fox Business Network's Maria Bartiromo.

The Fed agreed earlier this week to keep interest rates at a target range of 2.25 percent to 2.5 percent and to hold benchmark federal funds steady. It also announced a plan for ending its balance sheet reduction program by September.

Trump denied that his frequent criticism of the Fed influenced its signals that it won't see future rate hikes this year.

“I hope I didn't influence, frankly, but it doesn't matter. I don't care if I influenced or not,” he told Bartiromo. “One thing, I was right. But we would be over four [percent] if they didn't do all of the interest rate hikes, and they tightened. They did $50 billion a month. I said, ‘What are we doing here?’”

Trump also commented on the current trade negotiations with China, as top U.S. trade and economic officials travel to Beijing this weekend for further talks.

Already, Trump has imposed tariffs on $250 billion of China's imports, which he says are going to stay intact "for a substantial period of time," but he told Bartiromo the tariffs won't hinder the trade negotiations.

“I think a lot of people are waiting for the deal with China," said Trump.

"I think that’s going to have a very big impact, maybe bigger than people know,” Trump continued. “As to whether or not it makes it, I think it will. I think we’re getting very close. That doesn’t mean we get there, but I think we’re getting very close.”

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Politics
The world's economy is slowing, but the United States' isn't, despite Federal Reserve policies that have hindered growth, President Donald Trump said in an interview airing Friday.
trump, federal reserve, economy, growth
305
2019-09-22
Friday, 22 March 2019 07:09 AM
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