Trump Claims High Interest Rates Cause Stock Market Decline Despite Strong Employment Data
On September 5, Trump stated that despite recent strong employment data, the market has failed to rise due to high interest rates. He argued that the market should increase due to improvements in credit and economic conditions, yet the stock market has been in decline for the past 25 years. He criticized current economic theories, asserting that growth should not be stifled by the fear of inflation. Trump emphasized that excellent employment data should have driven the market up, but instead, it has fallen. He believes that the U.S. GDP growth rate should be between 15% and 20%, rather than the current 2%, 3%, or 4%. He pointed out that for every percentage point increase in interest rates, the U.S. incurs an annual cost of $650 billion, and he called for the implementation of a global minimum interest rate to promote economic growth and debt repayment.
-- Price
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