Watch President Donald Trump's full speech at the Davos World Economic Forum
President Donald Trump spoke at the Davos World Economic Forum in Switzerland about his agenda as president, the state of the economy, the U.S.-China trade deal, and more.
President Donald Trump told CNBC on Wednesday that U.S. economic growth would have been closer to 4% if it weren’t for the lingering effect of Federal Reserve rate hikes.
“That was a big blip that should not have taken place. It should not have happened. But it’s one of those things. But we had Boeing. We had the big strike with General Motors. We had things happen that are very unusual to happen,” Trump told CNBC’s Joe Kernen in an interview from the World Economic Forum in Davos, Switzerland.
The president also suggested that the stock market would be even higher than its already record-setting highs if the Fed hadn’t raised rates so quickly before cutting them three times during 2019.
“Now, with all of that, had we not done the big raise on interest, I think we would have been close to 4%,” Trump said of the U.S. gross domestic product. “And I – I could see 5,000 to 10,000 points more on the Dow. But that was a killer when they raised the rate. It was just a big mistake.”
The president has repeatedly taken the Fed and its chair, Jerome Powell, to task for raising rates too quickly, in his view. Trump nominated Powell to the role in November 2017, and the Fed raised rates four times in 2018.
The president’s remarks Wednesday echoed those his top economic advisor Larry Kudlow made to CNBC on Tuesday, when he predicted 3% growth in U.S. GDP in 2020.
“This is a long cycle, and what you’ve got here in the Trump years is essentially a mini upcycle,” Kudlow said Tuesday. “You’ve gone from 1.5% to 2% growth. We had it going at almost 4%, then the Fed tightened.”
Manufacturing and trade data released this month suggested the American economy ended 2019 on a strong note. The economy is expected to grow more than 2% in the fourth quarter. That would represent a slowdown from the 2.9% increase in 2018, and 2% growth would still suggest the decade-old expansion is set to continue into this pivotal election year.
The Trump interview came hours after the first full day of impeachment proceedings wrapped up in the Senate and a day after Trump gave a speech to the World Economic Forum in which he boasted about U.S. economic gains under his watch.
Several observers said the address sounded like a campaign speech in his 2020 reelection bid.
From a policy standpoint, Trump stood firm on his use of tariffs in trade negotiations, particularly as his administration looks to follow its so-called phase one trade deal with China with a second-phase pact. This stance has made business leaders in Davos skeptical that the two nations would reach an agreement before Trump’s first term is up in a year.
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
#CNBC TV
Видео Watch President Donald Trump's full speech at the Davos World Economic Forum канала CNBC Television
President Donald Trump told CNBC on Wednesday that U.S. economic growth would have been closer to 4% if it weren’t for the lingering effect of Federal Reserve rate hikes.
“That was a big blip that should not have taken place. It should not have happened. But it’s one of those things. But we had Boeing. We had the big strike with General Motors. We had things happen that are very unusual to happen,” Trump told CNBC’s Joe Kernen in an interview from the World Economic Forum in Davos, Switzerland.
The president also suggested that the stock market would be even higher than its already record-setting highs if the Fed hadn’t raised rates so quickly before cutting them three times during 2019.
“Now, with all of that, had we not done the big raise on interest, I think we would have been close to 4%,” Trump said of the U.S. gross domestic product. “And I – I could see 5,000 to 10,000 points more on the Dow. But that was a killer when they raised the rate. It was just a big mistake.”
The president has repeatedly taken the Fed and its chair, Jerome Powell, to task for raising rates too quickly, in his view. Trump nominated Powell to the role in November 2017, and the Fed raised rates four times in 2018.
The president’s remarks Wednesday echoed those his top economic advisor Larry Kudlow made to CNBC on Tuesday, when he predicted 3% growth in U.S. GDP in 2020.
“This is a long cycle, and what you’ve got here in the Trump years is essentially a mini upcycle,” Kudlow said Tuesday. “You’ve gone from 1.5% to 2% growth. We had it going at almost 4%, then the Fed tightened.”
Manufacturing and trade data released this month suggested the American economy ended 2019 on a strong note. The economy is expected to grow more than 2% in the fourth quarter. That would represent a slowdown from the 2.9% increase in 2018, and 2% growth would still suggest the decade-old expansion is set to continue into this pivotal election year.
The Trump interview came hours after the first full day of impeachment proceedings wrapped up in the Senate and a day after Trump gave a speech to the World Economic Forum in which he boasted about U.S. economic gains under his watch.
Several observers said the address sounded like a campaign speech in his 2020 reelection bid.
From a policy standpoint, Trump stood firm on his use of tariffs in trade negotiations, particularly as his administration looks to follow its so-called phase one trade deal with China with a second-phase pact. This stance has made business leaders in Davos skeptical that the two nations would reach an agreement before Trump’s first term is up in a year.
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
#CNBC TV
Видео Watch President Donald Trump's full speech at the Davos World Economic Forum канала CNBC Television
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
Full video: Trump-Clinton first presidential debateAlphaGo - The Movie | Full DocumentaryRobert Kiyosaki 2019 - The Speech That Broke The Internet!!! KEEP THEM POOR!Watch the full, on-camera shouting match between Trump, Pelosi and Schumer | The Washington PostHow The Economic Machine Works by Ray DalioHow to Survive the 21st Century | DAVOS 2020‘Great Reset’ in Davos at the forefront of a ‘great deception’ in the free worldLanguage Expert: Donald Trump's Way Of Speaking Is 'Oddly Adolescent' | The 11th Hour | MSNBCWatch CNBC's full interview with Berkshire Hathaway CEO Warren BuffettDonald J. Trump, Chairman and President, The Trump OrganizationTrump roasts Clinton at Al Smith charity dinnerPresident Donald Trump on Elon Musk: I was worried about him, because he's one of our great geniusesArtificial intelligence & algorithms: pros & cons | DW Documentary (AI documentary)Trump tells UN General Assembly U.S. rejects 'global governance'"The World in 2030" by Dr. Michio KakuReskilling Revolution: Better Skills for a Billion People by 2030 | Davos 2020President Donald Trump tells world leaders at Davos to 'put their own citizens first'"Never, EVER, GIVE UP!" - Donald Trump (@realDonaldTrump) Top 10 RulesHow Globalists Plan to Use Covid to RESET the World Economy | The Glenn Beck ProgramPress Conference: IMF World Economic Outlook Update | Davos 2020