Fed Fueling ‘Obama Paper Bull’ Market, Trump Adviser Says
Peter Navarro says Janet Yellen has been keeping interest rates low to help the president.
Yellen Helping Obama, Trump Adviser Says
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Senior Donald Trump economic adviser Peter Navarro questioned Federal Reserve Chairwoman Janet Yellen’s truthfulness while defending the Republican presidential nominee’s attacks on the central bank.
“What we have is a stock market that is the Obama paper bull,” Navarro said in an interview Tuesday. “The Federal Reserve, in keeping interest rates low in conjunction with an Obama administration—which doesn’t know how to get the economy going again—has created this false situation. And I think it’s fair to say that the Fed has been playing along with it.”