Director of the National Economic Council Kevin Hassett defended the strength of the U.S. economy under President Donald Trump, saying that it was thriving despite the Federal Reserve’s tight monetary policy.
Trump’s Economy ‘Is Booming’
Hassett said that the “economy is booming right now because of Trump’s policies,” and not because of the Federal Reserve, while appearing on CNBC’s “Squawk Box” on Monday.
“The Fed has amongst the highest interest rates on Earth right now, and President Trump is frustrated with that,” he said, while noting that this has nothing to do with the Department of Justice’s decision to pursue a “criminal indictment” against Fed Chair Jerome Powell.
Asked whether the Fed deserved any credit for not getting in the way of positive developments, Hassett pushed back, calling instead for “a little bit more introspection” from central bankers.
“We let inflation get out of control,” he said, referring to the …Full story available on Benzinga.com
Hong Kong stocks climb as yuan hits strongest level in nearly 3 years
...
Read moreDetails