On Fox Nation's "Maria Bartiromo's Insiders", White House trade adviser Peter Navarro pointed the finger at the Federal Reserve amid concerns of a potential U.S. economic recession.
"The problem here, the thing that worries me is that we've got a Federal Reserve playing checkers in a chess world," said Navarro.
Despite signs of slowing U.S. job growth and global economic uncertainty, Navarro insists that the U.S. economy is "solid", and he blamed the U.S. central bank for failing to properly react to financial moves made by global actors.
NAVARRO BLAMES FED RESERVE FOR CAUSING MARKET PLUNGE
"In the world of central banking, the Federal Reserve has to pay very close attention to what the European Central Bank is doing and other central banks. If they lower, we have to lower otherwise we lose exports and we slow our growth," said Navarro, adding that the high cost of borrowing is damaging to the U.S. economy.
NAVARRO: TRUMP ECONOMY WILL STAY STRONG
Navarro concluded that it "boggles his mind" that many are pointing to trade tensions with China as the cause of economic slowdown, and he instead blamed the Fed's "tight-money policy that drives up the dollar and drives down U.S. exports."
TRUMP DELIVERS ON PROMISE TO BUY AND HIRE AMERICAN, SAYS NAVARRO
Navarro's criticism of the Fed comes days after President Trump issued a critique of his own. The President tweeting, “Our Federal Reserve cannot ‘mentally’ keep up with the competition - other countries. At the G-7 in France, all of the other Leaders were giddy about how low their Interest Costs have gone. Germany is actually ‘getting paid’ to borrow money - ZERO INTEREST PLUS! No Clue Fed!”
To see Navaro's full remarks and an inside scoop from the White House Director of Trade on the upcoming China-US trade negotiations, join Fox Nation and watch the latest episode of "Maria Bartiromo's Insiders" today.
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