UPDATED 7:13 AM PT — Friday, March 22, 2019
President Trump is calling out the Federal Reserve for slowing the economy’s growth. During an interview on Thursday, the president explained how the economy would have grown over four-percent last year if the Fed hadn’t raised interest rates.
He added, the U.S. is not experiencing the same slowdown as the rest of the world, so the economy should have had greater growth than 3.1-percent.
The Federal Reserve has now signaled it will not raise rates this year despite an earlier prediction of at least two increases for 2019.
“Our policy rate is in the range of neutral, the economy is growing at about trend, inflation is close to target, unemployment is under three percent. it’s a great time for us to be patient and watch and wait and see how things evolve.” — Jerome Powell, chairman – Federal Reserve
President Trump said he doesn’t know if his comments had any influence on the pause in interest rates, but he said it proves one thing — he was right.