“In 2016, I stood before you supremely confident in what our people could achieve if government stopped punishing American workers and started promoting American workers and American companies. Our middle class was being crushed under the weight of a punitive tax code, oppressive regulations, one-sided trade deals, and an economic policy that put America’s interest last, and a very deep last at that.

“I knew that if we lifted these burdens from our economy, and unleashed our people to pursue their ambitions and realize their limitless potential, then economic prosperity would come thundering back to our country at a record speed. And that’s what’s happening.

“Today, I’m proud to stand before you as President of the United States to report that we have delivered on our promises and exceeded our expectations by a very wide margin. We have ended — (applause) — thank you. I was waiting for that. Thank you. I was waiting for that. (Laughter.) I almost didn’t get it.

“We have ended the war on American workers, we have stopped the assault on American industry, and we have launched an economic boom the likes of which we have never seen before.

“I did this despite a near-record number of rate increases and quantitative tightening by the Federal Reserve since I won the election — eight increases in total — which were, in my opinion, far too fast an increase and far too slow a decrease. Because remember, we are actively competing with nations who openly cut interest rates so that now many are actually getting paid when they pay off their loan — known as negative interest. Who ever heard of such a thing? Give me some of that. (Laughter.) Give me some of that money. I want some of that money. Our Federal Reserve doesn’t let us do it.

“I don’t say — (applause) — thank you. Thank you. The smart people are clapping. Only the smart people are clapping.

“I don’t say that’s good for the world — I’m not President of the world; I’m President of our country — but we are competing against these other countries nonetheless, and the Federal Reserve doesn’t let us play at that game. It puts us at a competitive disadvantage to other countries.”

— Remarks by President Trump at the Economic Club of New York, November 12, 2019