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President Donald J. Trump speaks during a meeting with Irish Prime Minister Leo Varadkar inside Oval Office at the White House on Thursday, March 14, 2019 in Washington, DC.
U.S. economic growth might be much stronger had the Federal Reserve stopped raising rates sooner, President Donald Trump said in an interview of which aired Friday.
“If we didn’t have somebody raising interest rates in addition to do quantitative tightening we might have been over 4 [percent] instead of at 3.1 [percent]” in terms of economic growth, Trump told Fox Business. “the globe is actually slowing, nevertheless we’re not slowing.”
Trump’s comments come after the Federal Reserve kept interest rates steady on Wednesday in addition to lowered its outlook for rate hikes for 2019 to zero. The Fed also downgraded its economic outlook for 2019. of which has been a significant pivot for the central bank in a matter of months.
Trump was critical of the Fed for raising rates four times last year. In October, he called the Fed “crazy” for tightening monetary policy at of which rate.
The U.S. economy expanded by 3.1 percent in 2018, in addition to by 2.6 percent inside fourth quarter of last year.
A CNBC survey found the U.S. economy is actually anticipated to grow by just 2.3 percent in 2019.
“I trust I didn’t influence them, frankly,” Trump told Fox Business. “nevertheless of which doesn’t matter, I don’t care if I influenced them or not. One thing is actually, I was right. We might have been over 4 [percent] if they didn’t do all the interest rate hikes.”
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