Howard Lutnick predicts that balancing the federal budget through spending cuts will boost growth and lower interest rates.

The Prediction in Context

Source: apnews.com

Lutnick said that the Trump administration would balance the federal budget with spending cuts, saying that would help growth and reduce the interest rates paid by consumers. “When we balance the budget of the United States of America, interest rates are going to come smashing down,” Lutnick said. “This is going to be the best economy anybody’s ever seen. And to bet against it is foolish.”