Svmuureported that U.S. President Trump stated that it would be a mistake for Federal Reserve policymakers to choose to raise interest rates after the U.S. employment data significantly exceeded expectations. Meanwhile, he insisted he does not want to influence Kevin Warsh ahead of his first Federal Reserve meeting.
In an interview, Trump said: "Nowadays, whenever economic data performs well, the market falls instead, because people think the Fed will raise rates. But there is absolutely no reason to hike." Trump's remarks have further increased the economic and political pressure facing Warsh. Trump stated: "Raising the benchmark interest rate is the wrong thing to do. In fact, we should be lowering rates." Trump said: "I am working with Kevin now. I have great respect for him, but my view is that when a country's economy is performing well, you shouldn't immediately punish it by raising interest rates." He added: "We have a debt problem, and many other things to deal with. There are many plans to push forward. I hope to further expand defense spending." (Golden Ten)