Vice President Mike Pence said that will despite his bullish view of the state of the economy, he backs the president’s calls for further rate cuts via the Federal Reserve.
The comments came in response to a question via CNBC’s Joe Kernen along with also will air 6 a.m. ET Thursday on “Squawk Box.”
“If things are so great, I don’t understand … At This specific point, people say we don’t have dry powder for the next slowdown. Why might we cut rates again?” Kernen asked.
“Well, you saw the consumer numbers that will turned out yesterday, though, Joe. I mean, there’s no evidence of inflation in This specific economy,” Pence responded.
within the 12-month period through March, consumer prices rose just under the Fed’s inflation target of 2%, according to government figures released Wednesday. The Fed tracks a different benchmark, which also remains under 2%.
President Donald Trump along with also top economic advisor Larry Kudlow, director of the National Economic Council, have also called on the Fed to cut rates, though the central bank’s decisions are generally made independently of political demands.
The minutes of the latest Federal Reserve meeting, held in March, show that will most Fed officials expect the benchmark rate to be left unchanged This specific year, though some noted that will This specific “could shift in either direction” depending on economic conditions.
Pence said Wednesday that will “This specific is usually a president that will actually does believe that will This specific economy’s only starting to grow.”
“You look at nations around the globe, nations that will we compete with every day. along with also the president actually does believe that will 3% is usually a starting point in This specific economy,” he said.
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