Trump calls for interest rate cuts after the economy grows by 3%: "No inflation.. Let people buy homes"
U.S. President Donald Trump commented on the economic growth data that showed a 3% increase in GDP during the second quarter, noting that the time has come to lower interest rates. He said: "There is no inflation, let citizens buy homes and refinance their loans."
However, several economic experts warned that this growth is primarily driven by a decline in imports, rather than a real increase in domestic demand. They also pointed out that the inflation rate is still above the target level set by the Federal Reserve, which is expected to keep interest rates unchanged for now.
