Over 1,350 people attended the lunchtime speech according to the Economic Club of NY spokeswoman.
The club’s membership is a who’s who of New York’s financial elite, and its trustees include John Williams, president of the Federal Reserve Bank of New York, and billionaire hedge fund investor John Paulson, 1 of President Trump’s Top financial backers.
President Trump also criticized policy-making by the Fed, he bemoaned the fact that the United States has higher interest rates than other developed economies, and he took credit for the economy’s record-long expansion.
“Remember we are actively competing with nations that openly cut interest rates so that many are now actually getting paid when they pay off their loan, known as negative interest. Who ever heard of such a thing?” he told members of the Economic Club of New York.
“Give me some of that. Give me some of that money. I want some of that money. Our Federal Reserve doesn’t let us do it.”
The Fed has cut interest rates 3X since July, but that followed a string of 9 increases since late Y 2015.
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