In an exclusive interview with CNBC, Trump said the US economy was outperforming previous periods under his leadership, arguing that his second term had surpassed the economic achievements of his first.
“Right now we are in a golden age.”
Trump said more factories were being built than ever before and claimed employment had reached a record high, while workers were earning more than at any other point in US history.
He also pointed to gains in retirement savings, saying 401(k) accounts had risen sharply alongside record highs in US equity markets.
The President said the current administration had already delivered dozens of record closes on Wall Street, adding that the performance exceeded what his first administration achieved.
He also criticised the way financial markets react to economic data, arguing that investors have become excessively focused on inflation rather than growth.
“When you announce good numbers, the stock market sometimes goes down… because they have this phobia… about inflation.”
Trump said stronger economic growth should be viewed positively and suggested the Federal Reserve had room to support the economy. While describing Federal Reserve Chair Kevin Warsh as “a great pro”, he said other members of the central bank’s board could make it difficult to lower interest rates.
The President also dismissed concerns over potential conflicts involving his business interests, saying he plays no role in managing the Trump Organization while in office. He said his investments are handled independently by large financial firms and reiterated that he had given up the presidential salary.