The president has become increasingly bold in his efforts to influence the Fed, which he and his advisers blame for economic growth falling short of the 4 percent annual rate last year as he promised. He has repeatedly criticized his handpicked Fed chairman, Jerome H. Powell, and has described the Fed as a counterweight to his economic policies.
The president’s comments came amid an economy that, despite some signs of weakness, continues to be doing quite well. The Labor Department reported on Friday that employers added 196,000 jobs last month, a rebound from an unexpectedly lackluster February. Economic analysts surveyed by FactSet had expected a gain of about 170,000 jobs in March. It was the 102nd straight month of job gains.
[Read more about the March jobs report, which showed a return to solid growth.]
The Fed raised interest rates four times last year, to the current range for its target interest rate of 2 percent to 2.25 percent, drawing frequent and historically unusual criticism from Mr. Trump in the process.
But the Fed has since diverted from what had been a steady march of interest-rate increases, in the face of stock market turmoil, growing domestic and global economic risks and pressure from Mr. Trump. The central bank projects a slower pace of economic growth this year than in 2018 and has cut its growth projections to 2.1 percent.
At the Fed’s most recent meeting, in March, Mr. Powell emphasized that the central bank would take a “patient” approach, and he did not rule out cutting interest rates if data showed the economy faltering.
Mr. Kudlow acknowledged that the White House, which has continued to project robust economic growth at home, is considered about economic distress abroad.
“We are facing a worldwide slowdown. You know, recession, arguably,” Mr. Kudlow said. “Europe is not doing well. Germany itself may be in recession. That troubles us.”
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