Fox News Contributor Argues Trump Should ‘Rethink’ Fed Policy, Urge ‘Higher Rates’

The Wall Street Journal’s James Freeman was bullish on the state of the economy when speaking with Fox News Friday, although he did not give credit to President Donald Trump’s tariffs when touting the gains. Freeman also urged Trump to reconsider his approach to interest rates while inflation remains stubbornly high.

Freeman, a Fox News contributor, said news reports may show that consumer confidence has slumped due to inflation, but that doesn’t mean Americans aren’t actually spending.

“This has been the story for a few years now,” Freeman said. “Consumers, voters, are very angry about inflation. They don’t like it. I think that explains a lot of the 2024 election results and the 2025 campaigns as well…Inflation by some measures ticking down a little, but still stubbornly near that 3% area, roughly where it was when President Trump took office. So, I think that’s a disappointment for consumers. I think the answer to that is productivity and growth, and the Federal Reserve restraining the growth of the money supply.”

Freeman added, “I know the president wants lower interest rates. He might want to rethink that and urge them to focus on perhaps even higher rates.”

Freeman continued:

This is a very good economy..I think I would disagree with [Trump] this is because of the tariffs — I think it’s probably in spite of them.

But, there’s no question about it, this is the underreported story of the year. We’ve had a lot of seemingly negative economic news. But the president took office when the economy was shrinking. Since then, he’s presided over two very strong quarters. 3.8% growth in the second and now this kind of home run number of 4.3% for the third when the fed is expecting another 3% growth number for the fourth quarter. So very good economic news. Corporate earnings very strong as well.

Freeman said job growth is steady, as are corporate earnings.

“It’s really that inflation number and trying to kill that beast that has afflicted us for several years now is what consumers would want before they get into a much happier mood,” Freeman said. “I think everybody has to be happy about that third quarter number on growth. Very good news.”

Watch the clip above via Fox News.

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