Trump Prefers Bad Economic News to Lower Interest Rates
US President Donald Trump expressed his discontent with good economic news on Wednesday, stating that it makes interest rates rise. He made this comment while discussing the Treasury Department's decision to more than double the amount of US bonds it will buy back.
The move comes as bond yields have been increasing since the beginning of the Iran war in February. Higher yields mean a higher cost of borrowing and can slow down consumption, which forces the government to pay more interest.
Trump has long demanded that the Federal Reserve lower interest rates to stimulate economic growth. When asked about the administration's efforts to stabilize the bond market, he lamented, 'It's very sad.'
'Every time we do great, we announce great numbers and the interest rates go up,' Trump said. He claimed that higher yields are a result of the Fed trying to stop inflation, but argued that they should instead lower rates due to the country's strong economy.