Trump said that the US economy is able to grow by 4% per year without raising interest rates

The US President has repeatedly stated that he is dissatisfied with the fed’s actions.

The US economy would grow by 4% per year if Federal reserve (fed) Chairman Jerome Powell did not resort to a gradual increase in the base interest rate. This was stated in an interview on Sunday with Fox News live stream channel President Donald Trump.

“We have a great moment: the world slows down GDP growth, but we do not,” the head of state noted. “Frankly, our GDP growth would now be above four instead of 3.1%, if someone was not engaged in raising the interest rate and quantitative restrictions,” Trump said, transparently pointing to the head of the fed.

Trump has repeatedly stated that he is dissatisfied with the actions of the fed, which last year raised the base interest rate four times. According to the American leader, this has a negative impact on the US economy.

At the end of December last year, the fed raised the base interest rate by 25 basis points to 2.25-2.5%. After that, Bloomberg, citing sources reported that trump is considering the resignation of Powell from the post of Chairman of the fed. Representatives of the White House have repeatedly stated that the President respects the independence of the fed and does not intend to interfere in its decisions.

The Federal reserve, which serves as the US Central Bank, is not going to raise the rate this year and 2021, and plans to do so only once in 2020. This was informed on March 20 by the management of the financial regulator-the Federal Committee for open market operations.

Author: Flyn Braun
Graduated from Cambridge University. Previously, he worked in various diferent news media. Currently, it is a columnist of the us news section in the Free News editors.
Function: Editor