The Federal Reserve announced plans to keep the interest rates at the current level, a move that was met by approval from President Donald Trump. When asked about the decision, Trump responded, “I’m not surprised. Holding the rates at this point was the right thing to do.”
In a switch, Trump approves Fed’s decision to hold interest rates steady– www.cnbc.com
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President Donald Trump agreed with the Federal Reserve for its decision last week to leave interest rates unchanged, an early pivot from his previous demand that the central bank ease “immediately.”
In an exchange with reporters Sunday, Trump said holding its key borrowing level in a range between 4.25%-4.5% was the correct move for the Fed.
“I’m not surprised,” he said regarding the decision, according to multiple reports. “Holding the rates at this point was the right thing to do.”
The statement stood in stark contrast to one Trump delivered when speaking remotely to the World Economic Forum in Davos, Switzerland. In a Jan. 23 appearance, Trump said he would “demand that interest rates drop immediately.”
