FLASH: President Trump Calls on Fed to do the right thing for Americans
President Trump called on the Fed to open the monetary floodgates to turn the world’s largest economy into a “rocket ship.”
“I personally think the Fed should drop rates. I think they really slowed us down. There’s no inflation. I would say in terms of quantitative tightening, it should actually now be quantitative easing,” he told reporters as he departed the White House Friday. “You would see a rocket ship. Despite that, we’re doing very well.”
The request for Fed assistance to boost growth came just after a Labor Department report showed another healthy sign for the durability of an expansion that may become the longest on record by midyear. The jobless rate held near a 49-year low and employers added more workers than economists forecast in March. The report showed little sign of wage inflation.
President Trump is breaking with longstanding Republican criticism of the Fed’s large balance sheet, and embracing a loose monetary policy that in effect helps finance the nation’s debt load.
Making and Keeping America Great!
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