President Trump on Wednesday responded to the Federal Reserve’s decision to keep interest rates unchanged, blaming the “political” Board of Governors and defending Fed Chair Kevin Warsh.
Warsh, he said, is “a brilliant guy” and would “love to see lower interest rates.”
Ahead of the decision, on Monday, Trump told reporters on Air Force One, “Rates should be lowered,” noting that “this country could be at 8%, 9%, 10%, 12%, GDP.”
“Kevin’s fantastic, but he’s got a board, and the board members are very political, I would say,” Trump said. “He’s got a board, and he wants to do the right thing. I know what he wants to do, but you need the consent of some people that have perhaps bad intentions.”
“Our country is the strongest we’ve ever been. It’s the hottest country anywhere in the world, and frankly, we’re being very nice to a lot of countries that would not survive without us. And you know who wouldn’t survive without us? Israel,” Trump added. “If I didn’t get involved and if I didn’t blow up those nuclear, essentially soon to be nuclear weapons, the dust, as they call it, Israel would have been terminated months ago and years ago if I didn’t terminate the Obama horrible agreement.”
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And after the Fed voted to maintain interest rates, Trump was asked if he’s “disappointed” with Kevin Warsh. But the President again slammed the “political board.”
“Kevin’s got a board. He’s fantastic. He’s a brilliant guy, smart. I know he’d love to see lower interest rates, but he’s got a board, and it’s a political board, and they want to keep rates up, but we fight through rates,” Trump said.
“We have the strongest investment ever made in a country of any country. It was China about 13/14 years ago. We have far greater $19.2 [trillion].”
“Even Jensen would say that’s a lot. And Jensen’s spending a tremendous amount of money by hundreds of billions of dollars. He happens to be in the room. He’s spending more than United actually. He’s spending 10 billion. Jensen’s spending hundreds of billions, right?” He added, referencing Nvidia CEO Jensen Huang.
“As you know, the Biden administration, for four years, did much less than $1 trillion. We’re doing $19.2 trillion in one year, so we have things that are happening in our country the likes of which nobody’s ever seen. Plants and factories are moving in. Toyota just announced they’re building one of the largest car plants anywhere in the world and truck plants anywhere in the world. We are building more automobile plants now than at any time in the history of our country.”
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As The Gateway Pundit reported, the Federal Open Market Committee (FOMC) voted 9-3 to keep rates at the range of 3.5% to 3.75%. The three no votes, Beth M. Hammack, Neel Kashkari, and Lorie K. Logan, sought to raise the interest rates by 1/4 percent.
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JUST IN: Federal Reserve Leaves Rates Unchanged (Fed Chair Presser)
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