President Trump took to social media on Tuesday to share optimistic economic news and to continue his push for a cut in interest rates. In two statements posted to Truth Social, Trump reflected on GDP growth and the interaction between the market reaction and the interest rates set by the Federal Reserve.
In his first post, President Trump celebrated GDP growth above economic predictions. “Q3 GDP came in at 4.3%, BLOWING PAST expectations of 3.2%. 60 of 61 Bloomberg Economists got it WRONG, but “TRUMP,” and some other Geniuses, got it right,” Trump said.
President Trump acknowledged his administration’s policies, including tariffs and tax cuts, as part of the reason for economic growth exceeding expectations. “The SUCCESS is due to Good Government, and TARIFFS,” Trump said. “Consumer spending is STRONG, Net Exports are WAY UP, Imports and Trade Deficits are WAY DOWN, and there is NO INFLATION! Consumer spending is STRONG, Net Exports are WAY UP, Imports and Trade Deficits are WAY DOWN, and there is NO INFLATION! Because of my Tax Bill (THE GREAT BIG BEAUTIFUL BILL) and TARIFFS, INVESTMENT IS SETTING RECORDS. The Trump Economic Golden Age is FULL steam ahead — “You haven’t seen anything yet!”
Reports from the Commerce Department show an estimated GDP growth of 4.3 percent from July through September. The findings reflect an increase from the 3.8 percent growth reported in the second quarter and show GDP outperforming the predicted 3 percent growth rate. Consumer spending also increased to 3.5 percent, exceeding the 2.5 percent found for the second quarter.
President Trump followed his post on the positive GDP growth with a call for a cut in interest rates. “In the old days, when there was good news, the Market went up. Nowadays, when there is good news, the Market goes down, because everybody thinks that Interest Rates will be immediately lifted to take care of “potential” Inflation,” President Trump said. “That means that, essentially, we can never have a Great Market again, those Markets from the time when our Nation was building up, and becoming great.”
The president continued by emphasizing the need for a market that reflects economic growth rather than hedging against inflation. “Strong Markets, even phenomenal Markets, don’t cause Inflation, stupidity does! I want my new Fed Chairman to lower Interest Rates if the Market is doing well, not destroy the Market for no reason whatsoever,” President Trump said. “I want to have a Market the likes of which we haven’t had in many decades, a Market that goes up on good news, and down on bad news, the way it should be, and the way it was.”
Trump said that rates could always be adjusted in the future as inflation might necessitate, and stressed that his new pick for Chairman of the Federal Reserve will need to promote the positive trajectory of the economy.
“Inflation will take care of itself and, if it doesn’t, we can always raise Rates at the appropriate time — But the appropriate time is not to kill Rallies, which could lift our Nation by 10, 15, and even 20 GDP points in a year — and maybe even more than that!” President Trump said. “A Nation can never be Economically GREAT if ‘eggheads’ are allowed to do everything within their power to destroy the upward slope. We are going to be encouraging the Good Market to get better, rather than make it impossible for it to do so. We are going to see numbers that are far more natural, and far better, than they have ever been before. We are going to, MAKE AMERICA GREAT AGAIN! The United States should be rewarded for SUCCESS, not brought down by it. Anybody that disagrees with me will never be the Fed Chairman!”