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White House trade adviser Navarro hopeful Fed will lower interest rates: CNBC

Published 07/02/2019, 10:55 AM
Updated 07/02/2019, 11:01 AM
White House trade adviser Navarro hopeful Fed will lower interest rates: CNBC

WASHINGTON (Reuters) - White House trade adviser Peter Navarro on Tuesday blamed the Federal Reserve's hike in interest rates for fears of a slowdown in growth and said he hoped the Fed would reverse increases in interest rates going forward.

"All I have to do is point to the Federal Reserve hiking interest rates, unnecessarily, too fast, too far and engaging in massive quantitative tightening when they should have been holding pat," Navarro told CNBC.

"And what we're feeling now is kind of the residual effect of that mistake that was done months ago, and the hope is that the Fed will do the right thing here and lower interest rates and get us back on track."

Latest comments

Once the fed cuts interest rates, it proves that they could never normalize interest rates in the first place. They weren't never able to sell off U.S Treasurys bonds or T notes, after year's of artificial low interest rates and QE 1,2 and 3. This was the solution of the 2008 Financial crisis, now the whole world economy may face some hard times during the next economic contraction.
Has it always been the Feds job to make sure a president got re-elected? My my my....what an embarrassment.
As the economy begins to fail this administration is hoping the Fed will prop it up just long enough to get through the election cycle. Then the recession comes and the Fed's out of means to counteract. What then?
Mr Navarro needs ammunitions for his trade war, otherwise he would be no adviser.
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