Trump Jabs Obama: He Had It 'Much Easier' Due To Low Interest Rates
- 5 years ago
President Trump on Tuesday jabbed at former President Obama over interest rates.
President Trump jabbed at former President Obama on Tuesday over interest rates.
Trump told reporters that since the economy is doing well during his presidency, the Federal Reserve has had to raise interest rates for "safety."
"President Obama didn't much of that - much easier to run when you have no interest rates," Trump added. "He had a very low interest rate. We have a normalized interest rate."
While the recent economic data has been strong, the stock market has suffered a dramatic dip, and Politico notes that Trump has "continually pestered the Fed to hold off on [interest] rate hikes, breaking from past presidents who sought to maintain the Fed's independence."
"It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!" Trump tweeted last week.
At a recent press briefing, White House press secretary Sarah Huckabee Sanders defended Trump's public criticism of the Fed.
"The president is stating his opinion, which he is perfectly within his right to do so," Sanders told reporters. "I think that is one of the reasons people like him, is because he does that, and he does it regularly. He's been very clear about what his position is, while at the same time, he understands that the Fed is an independent agency. That doesn't take away the President's right to state his opinion on a particular matter."
President Trump jabbed at former President Obama on Tuesday over interest rates.
Trump told reporters that since the economy is doing well during his presidency, the Federal Reserve has had to raise interest rates for "safety."
"President Obama didn't much of that - much easier to run when you have no interest rates," Trump added. "He had a very low interest rate. We have a normalized interest rate."
While the recent economic data has been strong, the stock market has suffered a dramatic dip, and Politico notes that Trump has "continually pestered the Fed to hold off on [interest] rate hikes, breaking from past presidents who sought to maintain the Fed's independence."
"It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!" Trump tweeted last week.
At a recent press briefing, White House press secretary Sarah Huckabee Sanders defended Trump's public criticism of the Fed.
"The president is stating his opinion, which he is perfectly within his right to do so," Sanders told reporters. "I think that is one of the reasons people like him, is because he does that, and he does it regularly. He's been very clear about what his position is, while at the same time, he understands that the Fed is an independent agency. That doesn't take away the President's right to state his opinion on a particular matter."