Better than anyone · First term · № 29
Knew about the economy better than the Federal Reserve
“But I think the Fed is far too stringent, and they're making a mistake, and it's not right. And it's—despite that, we're doing very well, but it's not necessary, in my opinion. And I think I know about it better than they do. Believe me.”
- Said
- , Exchange with reporters at the Save Our Seas Act signing, White House
- Subject
- the economy and interest rates
- Topic
- Economy & prices
- Era
- First term
What the record showed
The remark came a day after the Dow fell 831 points on October 10, 2018, when he said the Fed had "gone crazy." The Fed continued raising rates through 2018, then cut rates several times in 2019, citing a global slowdown and the effects of his trade policies. Asked the same day whether he would fire Chairman Jerome Powell, he said no.
Sources
- Remarks on Signing the Save Our Seas Act of 2018 and an Exchange With Reporters
- Trump says he knows economy better than Federal Reserve chair
- Trump says Federal Reserve has 'gone crazy' after big stock drop
- Economic policy of the first Donald Trump administration
- Everything Trump says he knows "more about than anybody"