U.S. President Donald Trump posted on social media on September 4 that despite "great numbers on jobs," the stock market went down, which he attributed to a misguided fear of inflation.
"How crazy is this? We just got GREAT Numbers on Jobs, the Market should go UP, because our Credit and Economy are better but, as always, for the past 25 years, the Stock Market goes DOWN, because we’re living under False Reality that if things are good, you’ve got to 'KILL IT' because of a 'fear' of Inflation," Trump wrote. He argued that the opposite should be the case, as it was until 25 years ago.
Trump asserted that "GROWTH DOES NOT CAUSE INFLATION!" and warned that if the current theory persists, the U.S. will never achieve true economic greatness. He called for GDP growth rates of 15 to 20 percent, rather than the current 2, 3, or 4 percent, claiming that would allow the country to pay off its debt and achieve other benefits. He also noted that every point in the interest rate costs the U.S. $650 billion a year, and argued that the U.S. should pay the lowest interest rates in the world. The post was signed "President DONALD J. TRUMP."