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President Trump: “Fed Could Fuel ‘Record-Setting’ Economy With Rate Cuts”

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Thursday, President Trump said U economic growth could be record-setting if the Fed would lower interest rates further, as econ reports Thursday painted a mixed picture of the nation’s economy.

The Economy is doing really well. The Federal Reserve can easily make it Record Setting,” President Trump said on Tweeted.

The government Thursday said initial claims for jobless benefits fell sharply last week in a show of labor market strength. But another report showed the factory sector was contracting for the 1st time in almost a decade, and yields in the US Treasury market again flashed a warning sign of a potential recession looming.

President Trump has said repeatedly that the Fed pushed borrowing costs up too high and has been too slow to lower them, and that the resulting strength of USD was making it hard for US manufacturers to compete in global markets.

This week, he called on Fed officials to slash rates by at least 1 full point.

On Twitter Thursday, President Trump lamented the relatively high level of US rates compared with some global competitors, noting that yields on 30-year bonds in Germany are negative.

Germany competes with the USA. Our Federal Reserve does not allow us to do what we must do,” he said on Twitter. “They move like quicksand. Fight or go home!”

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