Trump says 1-point rate rise costs U.S. $650 billion annually

  • Trump said markets should rise after strong employment data.
  • Each one-percentage-point rate increase costs the United States $650 billion annually, Trump said.
  • Trump called for the lowest global interest rates and GDP growth of 15% to 20%.

Trump said on Sept. 5 that markets should have risen after what he described as excellent employment data, citing stronger credit and economic conditions. He argued that fear of inflation has repeatedly prompted policymakers to restrain economic momentum, and said growth does not cause inflation. Trump said U.S. gross domestic product growth should reach 15% to 20%, rather than 2%, 3% or 4%, and that the country should be in a much stronger fiscal position, with its debt repaid and other economic benefits realized. He also said every one-percentage-point increase in interest rates costs the United States $650 billion a year and called for the world's lowest interest rates, arguing that the U.S. drives economic activity and creates substantial wealth for countries that might otherwise face difficulties.

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