Trump economic adviser: stop talking about the Fed | Reuters

WASHINGTON A senior economic adviser to President-elect Donald Trump stressed economic growth over discussion of Federal Reserve policies on Thursday, citing the need for small-business job growth through better regulation, energy policy and tax cuts.'I think people should move on from the Fed and talk more about the other policies that will change rather quickly,' adviser David Malpass said in an interview with CNBC.Malpass, a Treasury and State Department official during the presidential administrations of Ronald Reagan and George H.W. Bush, said Trump's focus will be on small-business job growth, achieved through better regulation, tax cuts and tax simplification.'The Fed is independent,' he said. 'The issue, though, is their performance has not been good

Reuters November 10, 2016 20:44:01 IST
Trump economic adviser: stop talking about the Fed
| Reuters

Trump economic adviser stop talking about the Fed
 Reuters

WASHINGTON A senior economic adviser to President-elect Donald Trump stressed economic growth over discussion of Federal Reserve policies on Thursday, citing the need for small-business job growth through better regulation, energy policy and tax cuts."I think people should move on from the Fed and talk more about the other policies that will change rather quickly," adviser David Malpass said in an interview with CNBC.Malpass, a Treasury and State Department official during the presidential administrations of Ronald Reagan and George H.W. Bush, said Trump's focus will be on small-business job growth, achieved through better regulation, tax cuts and tax simplification."The Fed is independent," he said. "The issue, though, is their performance has not been good. We've had a really slow-growth economy. The question is will they look inside and see their part of that problem."

The Fed is one of many parts of government that have been slowing the U.S. growth rate, Malpass said. Malpass did not comment on possible Cabinet picks by Trump. He said the New York real estate magnate has stressed he wants a business-like Cabinet and has given running mate Mike Pence more influence in helping make personnel decisions.

Malpass deflected questions about whether he is being considered as a possible head of the Federal Reserve when Janet Yellen's term expires in February 2018.

"I don't think we should be talking about the Fed today," he said. "The Fed is doing what it's doing. It's data dependent, it's going to look for a rate hike in December based on whether we're going to grow faster. All the signs are that the U.S. can begin to accelerate and I think that's wonderful for the country." (Reporting by Doina Chiacu; Editing by Bill Trott)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

also read

Market roundup: Sensex jumps by 568 points, Nifty at 18,337; today's top gainers and losers
Business

Market roundup: Sensex jumps by 568 points, Nifty at 18,337; today's top gainers and losers

Sensex increased by 568.90 points to end at 61,305.95 while Nifty ended at 18,337.90 after gaining 176.15 points.

In Kashmir, non-local labourers choose life over livelihood as militants warn of dire consequences
India

In Kashmir, non-local labourers choose life over livelihood as militants warn of dire consequences

The killings have spread panic among non-local labourers, at the time when most of them would work in apple orchards and as construction workers in the Valley

Opinion | Kashmir needs more than just cosmetic changes, can’t let the gains of Article 370 fritter away
India

Opinion | Kashmir needs more than just cosmetic changes, can’t let the gains of Article 370 fritter away

The de jure Islamic state created on the soil of India through Article 370 got dismantled, but the de facto Islamic state continues to hold fort.