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DNC Chair Doesn’t Think The Fed Should Raise Interest Rates

Democratic National Committee (DNC) Chair Tom Perez said that he doesn’t think the Fed should raise interest rates, calling it a “terrible idea” during an interview on MSNBC.

Perez previously served as the secretary of labor in the Obama administration, and was on MSNBC to discuss President Trump’s first jobs report.

“We hear this talk about the Fed raising interest rates. I think that’s a terrible idea, because the economy still has room for further growth,” Perez told MSNBC’s Stephanie Ruhle.

“In 2000, the unemployment rate was four percent. We are 4.7 percent now. I always thought the Fed would raise interest rates when there was a real fear of inflation. And that fear is not real right now. You look at the data.”

There is speculation that, following the strong jobs report, Fed Chair Janet Yellen will raise interest rates at the Fed’s March 14-15 policy meeting.

Trump opposes Yellen raising interest rates and seems to have found an unlikely ally in DNC Chair Perez.