President Trump says strong growth should not trigger inflation, calls for lower interest rates

  • President Trump said strong employment data should have lifted the stock market.
  • 15% and 20% were the GDP growth rates Trump said the U.S. should achieve.
  • President Trump said each one-point rate increase costs $650 billion annually.

President Trump said recently released employment data was positive and that the stock market should have risen, but longstanding concerns about inflation instead contributed to a decline. He argued that economic growth does not cause inflation and criticized policies that restrain expansion when economic performance improves. Trump said U.S. GDP growth should reach 15% or 20%, rather than 2%, 3% or 4%, and argued that the United States should have the world’s lowest interest rates. He said each one-percentage-point increase in rates costs the country $650 billion annually and that lower rates would ease the debt burden.

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