Trump once again attacked the Fed and claimed that it hadn’t done it job properly. His argument was that otherwise, “Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%…with almost no inflation.” However, he made no reference to unemployment rate at decades low, while core PCE was close to target. He also complained that “quantitative tightening was a killer, should have done the exact opposite!”.
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According to the Federal Reserve Act, Fed’s statutory objectives for monetary policy include “maximum employment, stable prices, and moderate long-term interest rates”. Fed’s objectives here in case you’re interested.
