President Trump took aim at the Federal Reserve on Saturday during his overseas trip to Japan, lamenting the body’s decision to raise interest rates.
Trump argued that the stock market would be as much as 10,000 points higher had the board kept interest rates steady, saying U.S. growth could have also exceeded 3 percent, CNN reported.
“But they wanted to raise interest rates,” he said, according to the outlet. “You’ll explain that to me.”
The Federal Reserve announced earlier this month that it would keep interest rates unchanged. The board said it would keep the federal funds rate at a 2.25 to 2.5 percent range given data showing that the U.S. economy remains strong despite concerns of a global slowdown.
Trump has long lashed out at the Fed for raising interest rates, arguing that a cut in rates would help the U.S. secure a win in his trade war with China.
“China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for the business they are, and will be, losing. If the Federal Reserve ever did a “match,” it would be game over, we win! In any event, China wants a deal!” he tweeted last week.
During his remarks at a reception with Japanese business leaders on Saturday night local time, Trump said that he hopes a bilateral trade deal with Japan will “address the trade imbalance, remove the barriers to United States exports and ensure fairness and reciprocity in our relationship.”
“We’re getting close,” he said, adding that “we hope to have several further announcements soon and some very big ones over the next few months.”
Trump also boasted about his “very special” relationship with Japanese Prime Minister Shinzo Abe while underscoring the “tremendous” military relationship between the U.S. and Japan as well as their economic bond.
“The relationship with Japan and the United States I can say for a fact has never been stronger, never been more powerful, never been closer. This is a very exciting time for commerce between the two countries that we both love,” he said.
Trump arrived in Tokyo on Saturday for his 4-day state visit to Japan, becoming the first state guest of the country since the coronation of its new emperor.