NEW YORK (Reuters) – President Donald Trump on Tuesday renewed his criticism of the Federal Reserve’s raising and then cutting of interest rates, saying the central bank had put the United States at a competitive disadvantage with other countries and calling for negative interest rates.
Trump in a speech to the Economic Club of New York claimed credit for an unparalleled economic boom, which he said was despite the Fed’s rate increases early in his presidency.
“Remember we are actively competing with nations that openly cut interest rates so that many are now actually getting paid when they pay off their loan, known as negative interest. Who ever heard of such a thing?” He said. “Give me some of that. Give me some of that money. I want some of that money. Our Federal Reserve doesn’t let us do it.”
Reporting by Jeff Mason; Writing by Lisa Lambert in Washington; Editing by Jonathan Oatis