Trump criticizes high interest rates, says each point costs US $650bn annually

Former U.S. President Donald Trump has expressed dissatisfaction with the current state of the U.S. stock market and interest rates, asserting that each percentage point in interest costs the nation $650 billion annually. Despite positive job data, Trump argued that the market should have risen due to improving credit and economic conditions, rather than falling.

In a post on his Truth Social account, Trump expressed frustration over the market's decline following strong job numbers, attributing it to a "false reality" that has persisted for 25 years. He claimed that the belief in restraining economic growth due to inflation fears has hindered the country's progress. Trump maintained that economic growth does not cause inflation, and instead, it should be encouraged to strengthen the United States financially.

Trump proposed that the U.S. should strive for GDP growth rates of 15% to 20%, significantly higher than the current 2% to 4%. He believed that such growth would make the country more robust, aid in paying off its debts, and bring about other economic advantages. Trump also criticized the current interest rate levels, emphasizing that the U.S. should offer the lowest interest rates globally, enabling what he termed "failed" nations to accumulate substantial economic wealth.

In conclusion, Trump reaffirmed his opposition to limiting economic growth to address inflation concerns, arguing that this approach prevents the U.S. from attaining what he described as "true economic greatness."