President Trump: 'If Fed Had Cut Rates, U.S. Economy Would Have Thrived'

JH Kim

Summary

President Trump argued that the U.S. economy would have thrived if the Fed had cut rates.
He criticized Powell, noting that conversations with the Fed Chair are difficult.
He expressed dissatisfaction with the Fed's response as central banks in Europe, China, and others are lowering rates.

According to CNN on the 8th (local time), U.S. President Donald Trump stated during a press conference at the White House that "if the Federal Reserve (Fed) had decided to cut rates the previous day, it would have been like injecting 'jet fuel' into the U.S. economy," adding, "However, the U.S. is doing well even without the Fed's rate cut."

He also pointed out that "talking to Fed Chair Jerome Powell feels like talking to a wall."

He continued, "All central banks, except Powell, including the European Central Bank and China, are lowering their benchmark rates. He is always slow," he added.