On December 12, U.S. Commerce Secretary Howard Lutnick, in an interview with CNBC, once again criticized Federal Reserve Chairman Jerome Powell, accusing him of maintaining interest rates too high.
"Interest rates should be lower. Jay Powell acted too late; perhaps he was too afraid—too afraid to lead the world's largest $30 trillion economy. We should be proactive, not timid, as if something terrible has happened. We're doing very well; great things are happening. Our GDP has grown by 4%."
He also predicted that the economy would grow by 6% during Trump's presidency. "Lowering interest rates and reducing energy consumption will lead to economic growth and save America."
