Published: Пн, Апреля 08, 2019
Business | By Eloise Houston

Fed should drop rates

Fed should drop rates

President Donald Trump told reporters on the White House lawn on Friday that if the Federal Reserve cut interest rates then the US economy would climb like "a rocket ship".

One of them is Stephen Moore, who served as economic advisor for Trump's presidential campaign team.

"I believe more people working with productivity on the heels of supply side tax cuts and deregulation is actually going to increase growth and reduce the inflation rate", he said.

He also reportedly conveyed his dissatisfaction to Fed chair Jerome Powell in a phone call in early March.

Speaking following the release of USA jobs data which showed a strong rebound in hiring in March, Trump said the United States central bank "really slowed us down", CNBC reported.

"I think they should drop rates and get rid of quantitative tightening".

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Kudlow observed that inflation is low and wages are rising.

"Moore and Herman Cain, are interested in fixing the price of the dollar in quantities of gold - bringing back a system that President Richard Nixon abandoned in 1971", Bloomberg explained.

Kudlow said that his and the president's calls for the Fed to cut interest rates were precautionary moves to make sure that various potential risks did not end up harming the economy after the Fed raised rates four times a year ago.

"I've told my folks that's the man and he's doing some pre-checking now and I would imagine he'd be in great shape", CNN quoted Trump as saying.

Meanwhile, Reuters explained that half a dozen Fed officials in recent days have touted the underlying strength of the American economy and argued a recent spate of weak data on business activity is more likely to prove fleeting than lasting.

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