Trump calls on Federal Reserve to cut interest rates

Donald Trump

Donald Trump"I don't think we're having a recession

Seconds after White House Principal Deputy Press Secretary Hogan Gidley repeated the Trump administration's denial that it is considering a payroll tax cut to stave off a recession, he accidentally admitted that he was present at a recent meeting where that exact thing was discussed. President Barack Obama temporarily cut payroll taxes to act as a counterweight to the 2009 recession.

The plans reveal the administration's top economic aides' growing concerns about a possible slowdown as the 2020 election nears - despite the President Trump's glowing reviews of the USA economy, The Washington Post reported.

We're going to see more of that.

"Is a payroll tax cut being considered?" The tax was reset to 6.2% in 2013, the Post said.

White House trade adviser Peter Navarro on Sunday dismissed the idea that last week's market volatility was a warning sign, saying "good" economic dynamics were encouraging investors to move money to the United States.

The economists surveyed by the National Association for Business Economics (NABE), in a report released Monday (Tuesday NZT), mostly didn't share Trump's optimistic outlook for the economy, though they generally saw recession coming later than they did in a survey taken in February.

Seeking to get ahead of a potential slowdown, Trump has been casting blame on the Federal Reserve, China and now Democrats, claiming political foes are "trying to "will" the Economy to be bad for purposes of the 2020 Election".

Unpopular and with a middling record of legislative achievements, Trump enters the 2020 campaign season facing significant headwinds - except on the economy. "Consumers are working. Their wages are rising". Republicans have complained that these cuts do not help the economy and disproportionately harm the deficit.

"We're looking for a rate cut". "Very Selfish! Our dollar is so strong that it is sadly hurting other parts of the world".

"The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points", Trump tweeted Monday.

The Fed cut rates last month for the first time in a decade and signaled it was open to doing more amid slowing global growth and uncertainty over Trump's trade war with China.

Trump's aides have also been inundating the media with interviews where they repeat this same line.

"We're doing tremendously well, our consumers are rich, I gave a tremendous tax cut, and they're loaded up with money", Mr Trump said.

Fed officials have said they do not make decisions based on political pressure, but Trump has taken his attacks on the central bank to new extremes, particularly this month amid numerous signs that the US economy is weakening more than expected.

"If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!" he said. They are spending at a rapid pace.

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