Trump Demands Fed Lower Interest Rates Amid Jobs Boom
President Donald Trump has weighed in on the latest jobs report, urging the Federal Reserve to lower interest rates. In a statement, he claimed that a strong country like the US deserves a lower interest rate, saying 'A STRONG COUNTRY MEANS A LOWER INTEREST RATE, IT'S A BETTER CREDIT.'
However, economists have pushed back against Trump's claims, arguing that a strong labor market is actually a reason to allow for higher interest rates if inflation data warrant them. They also pointed out that the interest rate set by the Fed is not the same as the rate on individual credit cards or loans.
Trump went on to say that he believes GDP growth should be at 15-20%, not the current 1.5%. He also claimed that lowering interest rates would allow the US to pay off its debt and achieve true economic greatness.