TRUMP: The Fed's keeping rates low as a favour to Obama. I like low rates, but they're basically handing a recession to the next president.

Donald Trump thinks the Federal Reserve is keeping interest rates low for reasons that have nothing to do with the economy.

In an interview with Bloomberg TV’s Stephanie Ruhle on Friday morning, the republican presidential candidate said chair Janet Yellen is simply doing Obama a political favour.

He said, “Janet Yellen for political reasons is keeping interest rates so low that the next guy or person who takes over as president could have a real problem. Keeping these interest rates at this level, Stephanie, this is a political thing, when they get raised, perhaps with the next president, we’re going to see some bad things happen.”

Trump is not sure that Yellen is failing, but she seems to be a “very political” person.

The Fed has kept its benchmark interest rate near zero for nine years to support the economy in the wake of the recession.

“I don’t think it’s too late, but I think you’re going to have to do something. They are trying to put the recession, and it could be a beauty, into the next administration, and that’s not fair.”

Trump admitted, however, that as a real estate developer, he is in fact enjoying the low interest rate climate.

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