Economy Will Take Off Like ‘Rocket Ship’ If Fed Cuts Interest Rates (Video)

Economy Will Take Off Like ‘Rocket Ship’ If Fed Cuts Interest Rates (Video)

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.

US stocks gained after President Trump’s remarks.

Making and Keeping America Great!

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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