Economic growth a top Presidential priority — finally the Fed gets it right

Wednesday, for the third time in four months, the Federal Reserve (Fed) cut the federal funds rate by 0.25%. Fed chair Jerome Powell indicated that the current level of interest rates is probably right, likely requiring no further action is foreseen in the immediate future. This time Powell got it right.

When President Trump was sworn into office, he made economic growth the top policy priority. This was very important since the economy was experiencing the longest economic period of slow growth in history.

The economy hadn’t seen a 3% annual growth since 2005. The economy hasn’t seen a 4% annual growth since 2000.

The primary reason is that the prior administration had set “curing perceived social injustices” as the top policy priority. Every time an action was taken to provide healthcare to more Americans or to stop banks from taking advantage of consumers, economic growth slowed.

Why Warren’s Medicare For All will be a costly disaster for Americans

In 2017 Trump canceled hundreds of growth stifling regulations to increase economic growth. Also in 2017 Trump convinced Congress to cut taxes for all Americans. But also for corporations. That tended to increase economic growth. Trump then convincing Congress to…