Trump Says Fed's Rate Increases Restrained Stock Market Growth

(Bloomberg) -- President Donald Trump repeated his criticism of the Federal Reserve’s interest rate increases and said the stock market would be 10,000 points higher had the Fed kept rates lower.

Without the rate increases, “the stock market would be up 10,000 points more, but now we have a very conservative approach,” Trump said in a taped interview with Fox News that was broadcast Thursday night.

The Fed’s interest rate increases in 2018 outraged the president, who went so far as to discuss firing Fed Chairman Jerome Powell with his advisers late in the year. Trump subsequently expressed confidence in Powell.

Earlier this week, Powell signaled an openness to cut interest rates if necessary, pledging to keep a close watch on fallout from a deepening set of disputes between the U.S. and its largest trading partners.

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