Summary
President Donald Trump shared his views on how the Federal Reserve should operate. He suggested that the new Fed chairman should lower interest rates when the market is doing well. His statement was in response to a report showing the U.S. economy grew more than expected in the third quarter.
Key Facts
- President Trump introduced the idea of a "Trump Rule" for the Federal Reserve.
- He criticized the practice of raising interest rates due to inflation concerns.
- Trump's comments followed a report that the U.S. economy grew faster than expected, with GDP up by 4.2%.
- He expressed that strong markets should not lead to interest rate hikes.
- Trump believes good market news should lead to market increases, not decreases.
- He wants the new Fed chairman to lower rates if the market is performing well.
- Trump stated that markets should naturally go up on good news and down on bad news.
- He emphasized that the U.S. should not be penalized for economic success.
