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

Former US President Donald Trump has 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 urged policymakers not to treat economic growth as a cause of inflation.

In a post on his Truth Social account, Trump said the market declined after the release of strong jobs figures due to what he called a "false reality" that has persisted for 25 years, namely the belief that better economic conditions must be restrained over 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 "fantastic" jobs numbers that morning, he knew the market would fall, even though he believed it should have risen sharply.

Trump called for US 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 down its debt, and deliver 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 per year.

Trump asserted that the US should have the lowest interest rates in the world, arguing that as the global economic engine, it enables what he called "failing" countries to gain significant economic wealth.

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