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'We are in a bubble': Trump says the economy is unstable
(Republican presidential nominee Donald Trump.Drew Angerer/Getty Images)
Republican presidential candidate Donald Trump is going after Janet Yellen again, claiming that the Federal Reserve is creating an investment bubble.
During the first presidential debate, Trump said that the economy is having "the worst revival of an economy since the Great Depression" and that nothing in the country is healing after the financial crisis.
Additionally, Trump said that because of record low interest rates from the Fed, the country's economy is "in a big, fat, ugly bubble," with debt increasing while the "only thing that looks good is the stock market."
Thus when interest rates increase, the bubble would burst and the stock market would crash.
Trump also repeated his claims that the Fed is keeping interest rates low while President Barack Obama is in office in order to keep the economy going until Obama leaves office.
As soon as Obama retires and "goes out to the golf course" the Fed will raise rates, Trump said.
The Fed is a politically independent institution that does not answer to the president.
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