President Trump continued his public pressure campaign on the Federal Reserve to cut interest rates to juice the US economy
New job numbers for the month of June came in stronger than expected at 224,000, a sharp rebound from a dip in May, and the report also showed Americans continuing to come off the sidelines of the economy to look for work. Yet Trump said Friday that he still wants a cut in interest rates, which he argued would"skyrocket" America's economy.
"There's no question that the Fed raised rates too fast," said Navarro."He doesn't understand the power of President Trump's deregulatory agenda, the tax cuts that are allowing us to grow with zero inflation," referring to Powell."This is the bottom line. There is no inflation in the economy when he raised those rates. He cost us a full point of growth.
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