President Donald Trump touted the economic accomplishments of the first 100 days of his second term during a rally Tuesday in Michigan, while also taking a swipe at Federal Reserve Chair Jerome Powell.
"Gasoline prices are down by a lot," Trump said at Macomb Community College in the Detroit suburb of Warren in a speech that aired live on Newsmax and the Newsmax2 free online streaming platform. "Energy prices are down. Mortgage rates actually just went down. Prescription drug prices just saw their largest monthly decline ever recorded. How about that?
"That's a big thing. I've got to say it again and again because they will never tell you that. The fake news will never tell you that grocery prices have gone down, everything's gone down."
Even mortgage rates, which were 7.08% on a 30-year fixed rate loan on Inauguration Day and are now 6.72%, according to mortgage data company Optimal Blue. It is then when Trump laid into Powell, whom he has clashed with regarding their differences over how the Fed should fix its key interest rate, which is at 4.33%. The rate plays an influential role in shaping borrowing costs for credit cards, mortgages, and other loans.
"Inflation is basically down, and interest rates came down despite the fact that I have a Fed person who's not really doing a good job," Trump said. "But I won't say that. I want to be very nice. I want to be very nice and respectful to the Fed. You're not supposed to criticize the Fed. You're supposed to let him do his own thing. But I know much more than he does about interest rates, believe me."
GET TODAY NEWSMAX+:
NEWSMAX is the fastest-growing cable news channel in America with more than 30 million people watching!
Reuters Institute reports NEWSMAX is one of the top news brands in the U.S.
You need to watch NEWSMAX today.
Get it with great shows from Rob Schmitt, Greta Van Susteren, Greg Kelly, Carl Higbie, Rob Finnerty – and many more!
Find the NEWSMAX channel on your cable system – Go Here Now
BEST OFFER:
Sign up for NEWSMAX+ and get NEWSMAX, our streaming channel NEWSMAX2 and our military channel World at War.
Find hundreds of shows, movies and specials.
Even get Jon Voight's special series and President Trump's comedy programs and much more!
Watch NEWSMAX+ on your smartphone or home TV app.
Watch NEWSMAX anytime, anywhere!
Start your FREE trial now: NewsmaxPlus.com