White House Trade Advisor Navarro: Fed costing US a full point of GDP growth
|White House trade advisor Peter Navarro reportedly said during an interview that the Federal Reserve is costing the US a full point of gross domestic product (GDP) growth.
The Fed cut rates by 25 basis points on Wednesday and kept the doors open for more easing in the near-term.
President Trump, however, was rooting for a 50 basis point rate. Trump wants the Fed to embark on a full-blown easing cycle and has repeatedly criticized the Fed for keeping the interest rates high.
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