Earlier today, Andy chatted with Stuart Varney to discuss President Trump’s criticisms of the Federal Reserve. “I agree with the president. I think we’re raising interest rates too often,” argued Andy.
“We had one interest rate increase in the entire Obama administration in December 2015 and the stock market tanked. It is a testament to the incredible economy that they are doing this, but raising interest rates seven times since the election– that’s too many, too fast,” Andy added. He also notes that eventually, there will be a recession in the United States and with rates being raised too quickly and too often the economy won’t have any weapons in its arsenal, which will ultimately put a halt on the spectacular economic growth this country has seen.
Also asked was whether or not we are facing a risk of inflation. “We do have an inflationary threat but if we raise interest rates slowly we will be able to hold that in check. We’ve had much stronger economic growth than predicted this year without huge inflation,” said Andy. “The economy is doing so well– let’s not kill it in its infancy. Let’s let it grown a little.”
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