President Donald Trump clearly stated his disapproval regarding the Fed’s decision to raise interest rates
As the Fed decided to raise the interest rates, Donald Trump could not help but respond in disapproval, saying that he would rather do other things with the money.
“Unfortunately they just raised interest rates a little bit because we are doing so well. I’m not happy about that,” President Trump said at a press conference in New York Wednesday. “I’d rather pay down debt or do other things, create more jobs.”
The Federal Reserve raised its benchmark interest rate a quarter point as well as its expectations for economic growth for the current year and the next.
Moreover, Trump pointed as reasons to increase rates the strength in the economy and a falling unemployment rate.
“I’m worried about the fact that they seem to like raising interest rates, we can do other things with the money,” he said.
“Just run the presses — print money. We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump told Gary Cohn, the former director of the National Economic Council, during a discussion on the national debt.
Donald Trump has criticized Fed Chair Jay Powell’s move to higher rates numerous times until now. During an interview this summer, Trump said that he was not thrilled with the rate hikes.