Trump: Economic growth hindered by Fed rate hikes

President Donald Trump on Thursday told Fox Business that rate hikes by the Federal Reserve have hindered economic growth in the U.S.

"Frankly, if we didn't have somebody that would raise interest rates and do quantitative tightening, we would have been at over 4 [percent] instead of at 3.1 [percent]," Trump said.

The Fed on Wednesday voted to keep interest rates the same. It's not expected to raise rates this year.

“I hope I didn't influence, frankly, but it doesn't matter. I don't care if I influenced or not,” Trump said. “One thing, I was right. But we would be over 4 [percent] if they didn't do all of the interest rate hikes, and they tightened. They did $50 billion a month. I said, ‘What are we doing here?’”

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