Trump criticizes high interest rates, says each point costs US $650bn annually

Former US President Donald Trump criticized the performance of the stock market despite what he described as positive jobs data, arguing that improvements in credit and the economy should have driven the market higher rather than lower. He also called for lower interest rates and said economic growth should not be treated as a cause of inflation.

In a post on his Truth Social account, Trump said the market declined after the release of strong jobs numbers because of what he called a "false reality" that has persisted for 25 years: the idea that improving economic conditions must be restrained due to inflation fears.

He added that handling growth in this way slows economic momentum, insisting that, in his view, growth does not cause inflation. Trump said that as soon as he saw the excellent jobs figures this morning, he knew the market would drop, even though he believed it should have risen sharply.

Trump called for GDP growth rates of 15% to 20%, instead of the current 2% to 4%, arguing that such growth would make the United States financially stronger, help pay off its debts, and bring other economic benefits.

https://truthsocial.com/@realDonaldTrump/posts/117213719435854140

The former president also criticized current interest rate levels, noting that each percentage point in rates costs the United States $650 billion annually.

Trump asserted that the US should pay the lowest interest rates in the world, reasoning that as the global economic engine, it enables what he described as "failed" countries to gain significant economic wealth.

He concluded his post by reaffirming his stance against restricting economic growth over inflation concerns, arguing that this approach prevents the US from achieving what he called "true economic greatness."