WASHINGTON, DC - MAY 19: A gold plated seal outside inside the Eccles Building, the place of the Board of Governors of the Federal Reserve System and of the Federal Open Market Committee, May 19, 2016 in Washington, DC. (Photo by Brooks Kraft/ Getty Images)
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Federal Reserve to hike interest rates
02:26 - Source: CNN
The economy 10 videos
WASHINGTON, DC - MAY 19: A gold plated seal outside inside the Eccles Building, the place of the Board of Governors of the Federal Reserve System and of the Federal Open Market Committee, May 19, 2016 in Washington, DC. (Photo by Brooks Kraft/ Getty Images)
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Federal Reserve to hike interest rates
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Federal Reserve Chair Janet Yellen speaks during a press conference following the announcement of an historic rate increase, the first since 2006, in Washington, DC, December 16, 2015. The Federal Reserve announced Wednesday its first interest rate increase in more than nine years in a landmark move signaling the US has finally moved beyond the 2008 crisis. The Fed raised the benchmark federal funds rate, locked near zero since the Great Recession, by a quarter point to 0.25-0.50 percent, saying the economy is growing at a moderate pace and should accelerate next year. AFP PHOTO / SAUL LOEBSAUL LOEB/AFP/Getty Images
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NEW YORK, NY - SEPTEMBER 15: Republican presidential candidate Donald Trump speaks at a lunch hosted by the Economic Club of New York on September 15, 2016 in New York City. According to a report by Oxford Economics, if Trump is elected to the White House growth in the US would be about 5 per cent lower than would otherwise be expected by 2021. (Photo by Spencer Platt/Getty Images,)
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President Donald Trump listens during a meeting with leaders from small community banks, Thursday, March 9, 2017, in the Roosevelt Room of the White House in Washington. (AP Photo/Evan Vucci)
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CLEVELAND, OH - JULY 21: Republican presidential candidate Donald Trump gives two thumbs up to the crowd during the evening session on the fourth day of the Republican National Convention on July 21, 2016 at the Quicken Loans Arena in Cleveland, Ohio. Republican presidential candidate Donald Trump received the number of votes needed to secure the party's nomination. An estimated 50,000 people are expected in Cleveland, including hundreds of protesters and members of the media. The four-day Republican National Convention kicked off on July 18. (Photo by Chip Somodevilla/Getty Images)
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Trump used to bash jobs reports, until now
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Editor’s Note: William Poole is senior fellow at the Cato Institute and distinguished scholar in residence at the University of Delaware. He retired