Hours after the Fed voted to raise interest rates, President Trump criticized the central bank and alluded to his recent threat to cut off trade to countries with which the United States has a trade deficit.
In a post on social media, Trump argued that the country is “BOOMING” and demanded that rates be cut to 1 percent or less. Economists widely believe that such a move risks stoking inflation.
Trump returned to the matter of trade, weeks after threatening to interrupt international commerce in a bid to lower borrowing costs. This time, though, Trump was less explicit.
“If we stopped Trading with every country that we have a Deficit with, which is most of them, we would make, at least, 1.5 Trillion Dollars a year,” the president said. “The word ‘Deficit’ is nothing more than a fancy word for LOSS. We are “carrying” almost every country in the World, and that cannot go on any longer.”