Donald Trump urged the Federal Reserve to lower interest rates, renewing his long-running campaign against the central bank, which he claims has hindered economic growth
, the president said the U.S. economy has “the potential to go up like a rocket” if the Fed would lower interest rates “like one point” and resume quantitative easing, a bond-buying program launched by the Fed in 2008 in the wake of the financial crisis to stop the collapse of the housing market and increase the supply of money in the economy.The central bank is hosting its regular Federal Open Market Committee meeting Tuesday and Wednesday.
The president compared the United States with China, a nation that he said is “adding great stimulus to its economy while at the same time keeping interest rates low.” “Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!” Trump tweeted.
This summer, the current economic expansion will become the longest in U.S. history. The economy grew by 2.9 percent in 2018.
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