TIL Desk/World/Washington/ US President Donald Trump has criticised the Federal Reserve”s monetary policies, saying the central bank”s hesitation in lowering the interest rates capped gains in the US economy and stock market. In a speech delivered on Tuesday at the Economic Club of New York, Trump emphasised the country”s economic strength, citing improving labor market data.
He said his administration has delivered on its promises and exceeded expectations on the US economy, “despite the near-record number of rate increases and quantitative tightening by the Federal Reserve” since he won the presidential election. “Eight increases in total… were in my opinion far too fast an increase and far too slow a decrease,” he said.
Trump noted that since his election, the S&P 500 has risen more than 45 per cent, the Dow Jones Industrial Average has increased over 50 per cent and the Nasdaq Composite has been up 60 per cent. “If we had a Federal Reserve that worked with us, you could have added another 25 per cent to each of those numbers, I guarantee you that,” Trump said.
