Trump wants Fed rate cut, quantitative easing

WASHINGTON (AP) — President Donald Trump has responded to the jobs report by calling on the Federal Reserve to cut rates and restore the bond-buying program it used to lower longer-term interest rates earlier this decade in the aftermath of the Great Recession, an approach known as “quantitative easing.”

“Our country’s doing unbelievably well economically,” Trump tells reporters on the South Lawn of the White House.

Yet Trump says that he believes the central bank “really slowed us down” with the four rate hikes the Fed imposed last year which he says were unnecessary because there is “very little if any inflation.”

“In terms of quantitative tightening, it should actually now be quantitative easing,” Trump says. “I think they should drop rates, and they should get rid of quantitative tightening. You would see a rocket ship.”

Trump has announced he intends to nominate to conservative political allies, Stephen Moore and former 2012 GOP presidential candidate Herman Cain for two current vacancies on the seven-member Fed board.