Trump hails higher rates that attract capital to the United States
Donald Trump, who has been calling on the central bank for months to drastically lower interest rates to make US products more competitive in exports, said Tuesday the “massive amounts of money” attracted to the United States. United by rates … higher than elsewhere.
“Massive amounts of money from China and around the world are pouring into the US for security, investment and interest rate reasons!” Exclaimed the president on Twitter.
“We are in a very strong position. Companies also come to the USA in large numbers. It’s wonderful to see, “he added, in the aftermath of serious financial market turmoil that saw Wall Street’s three largest indexes post their biggest fall of the year.
This is the first indirect comment of the tenant of the White House on these jolts. The president, who is seeking a second term, sees the stock market indexes as a good indicator of the success of his economic policy and his chances of being re-elected.
Mr. Trump takes the opposite of his usual position, which denounces America’s main trading partners, starting with China and the euro area, to let their currency against the dollar to make their products more attractive to the States. -United.
Higher interest rates generally attract capital that is better paid.
Monday’s stock market storm, which seems to have calmed down in Asia and Europe while waiting for an opening likely to rise in the United States, was triggered by China, which dropped the yuan to its lowest level in 11 years after that Mr Trump announced last week that he would impose, on 1 September, 10% of taxes on the 300 billion Chinese products that are not yet taxed.