Trump can't have a strong US economy and low interest rates at the same time, says ex-Fed governor
U.S. President Donald Trump will likely welcome the Federal Reserve's projection of zero interest rate hikes this year — but he should be wary that his hopes for a strong American economy may not materialize, according to a former Fed governor.
"On the one hand, the administration says the economy will grow, perform really well ... On the other hand, they want to have low interest rates. You really can't have it both ways," he added. Heller, who has frequently called for quicker rate hikes by the Fed, said he hopes the central bank will resume monetary policy tightening in the middle of this year. Doing so would give the Fed some room to cut rates to stimulate economic activity during the next recession, he explained.
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