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PResident Trump said Sunday that the Federal Reserve should return to a policy of quantitative easing, arguing against a tightening of monetary policy that he says is hurting the US economy.
Just before arriving at the Trump National Golf Club in Sterling, Virginia, Trump sent the tweet criticizing the Fed.
"If the Fed had done its job, which it did not do, the stock market would have increased by 5,000 to 10,000 additional points, and the GDP would have been well above 4% instead of 3% … with virtually no inflation. Quantitative tightening was a killing, should have done exactly the opposite! "
If the Fed had done its job well, which it did not do, the stock market would have risen by 5,000 to 10,000 additional points, and GDP would have greatly exceeded 4% instead of 3 % … without almost inflation. Quantitative tightening was a killing, should have done exactly the opposite!
– Donald J. Trump (@realDonaldTrump)
April 14, 2019
Trump has criticized the Federal Reserve's policy in the past, accusing it of raising interest rates too quickly at the end of last year. It has been reported that Trump had had private discussions about the dismissal of Federal Reserve Chairman Jerome Powell, although he does not think Trump has the power to fire him.
Despite his criticism of Powell and the Federal Reserve, Trump moved away from the concept of dismissal of the president. He recently told Powell, "I guess I'm stuck with you."
The critical message came as Trump faced violent reactions to his plan to appoint businessman Herman Cain and Stephen Moore to the Federal Reserve Board of Governors.
Federal Reserve officials announced last month that they had maintained their interest rate target and indicated that they would not raise rates at all this year.
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