Speaking at the Economic Club of New York
- Jobs were not plentiful when he took over as President
- The experts said they had no choice but to accept stagnation
- I knew working together we could make America even greater
- Fed moved rates higher far too fast and lowered rates far too low
- US is competing against other countries and the Federal Reserve does not let us compete
- Fed puts us at a competitive disadvantage to other countries
- If we had a Federal Reserve that work with us the US stock market would be up by another 25%
- last year GDP growth match the highest growth rate in over a decade
- we want companies to be in America
- The US has tremendous economic potential
- Says he thinks US can bring down tax rates further
- Corporate tax rate could go lower
- US is pursuing energy independence
- China has taken advantage of the US because of its WTO designation as a developing nation
- to be a strong nation the US has to be a manufacturing nation
- US has added 10,000 brand-new factories
- Europe is set up terrible barriers for US on trade in some ways more worse and then China
- No country has cheated US more than China
- China is devaluing its currency, is dying to make a trade deal
- We are close to signing a phase 1 trade deal and it could happen soon
- we will only accept a deal if it is good for United States and US workers
- China is having the worst year in over 57 years
- Having strong, substantial negotiations with Japan on trade
- Calls for passage of USMCA. If put toward a vote Democrats would vote for today
Stocks at the start of the speech:
- S&P +10.3 points
- Nasdaq +39.375 points
- Dow, +47 points
Forex rates at the start of the speech
- EURUSD, 1.1016
- GBPUSD, 1.2863
- USDJPY 109.11
- USDCHF 0.9931
- USDCAD, 1.3232
- AUDUSD 0.6847
- NZDUSD 0.6337
In other markets:
- spot gold $1450.38
- WTI crude oil futures $56.84
- 2 year yield 1.6643%
- 10 year yield 1.9260%
