Trump says Fed rate hikes held back US, world markets
Washington, Mar 30 (Sputnik/UNI) US President Donald Trump in a statement said that the US economy as well as domestic and global markets would be much higher and better off if the Federal Reserve (Fed) had not raised interest rates since he came into office.
"Had the Fed not mistakenly raised interest rates, especially since there is very little inflation, and had they not done the ridiculously timed quantitative tightening, the 3.0% GDP and stock market would have both been much higher and world markets would be in a better place," Trump said via Twitter on Friday.
The US central bank increased the interest rate four times last year and projected that more hikes were to come in 2019.
However, last week the Fed maintained the US interest rate at the 2.25-2.5 per cent range and indicated that no changes are expected for the rest of the year.
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