7/11/2019, 10:37 PM (Source: TeleTrader)
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Trump says Dow can hit 37,000 points with low rates

United States President Donald Trump said on Thursday that with low interest rates the Dow Jones Industrial Average could jump by another 10,000 points. Since the Dow hit a record 27,000 earlier in the day, a 10,000 point jump would bring it to 37,000 points.

Trump added that he wants low interest rates because there is no inflation. The president added that it seems to him that Federal Reserve Chair Jerome Powell now understands that a rate cut is needed.

The comment comes after Powell hinted in a Congress testimony that he may be prepared to decreased interest rates.

Breaking the News / VP