Trump says the Fed should cut interest rates
In his latest dig at the Federal Reserve and hours after a strong jobs report, President Trump told reporters on Friday that the Fed should "drop interest rates and get rid of quantitative tightening."
Why it matters: Historically the Fed cuts interest rates to prop up a weakening economy, but Trump said "the country is doing unbelievably well, economically."
- Trump's comments echo what White House economic advisor Larry Kudlow told Axios last week. But it's the first time Trump himself, who has broken presidential norms of not commenting on monetary policy, has publicly called for a rate cut.
- The Fed has signaled it is done hiking rates for the rest of the year.