Donald Trump

When: Thursday, May 15th at 7:30AM
Where: "Squawk Box"

Following is an unofficial transcript of a CNBC interview with Donald Trump.

All references must be sourced to CNBC.

KERNEN: FROM LAND DEVELOPMENT, CASINOS TO THE "APPRENTICE" TO MEN'S COLOGNE GOLF.GREAT GOLF COURSES.OUR NEXT GUEST HAS HIS HAND IN ALMOST EVERYTHING THAT AFFECTS THE ECONOMY.

QUICK: THE SQUAWK PHONE.

KERNEN: OH, THAT'S THE SQUAWK PHONE. IT MUST BE NEW. IT'S A BATMAN TYPE SOUND. DONALD TRUMP, CHAIRMAN AND PRESIDENT OF THE TRUMP ORGANIZATION. ARE THERE?

TRUMP: I AM. GOOD MORNING, JOE, GOOD MORNING BECKY.GOOD MORNING, WILBUR.WILBUR CALLED ME AND SAID I WOULD DO THIS.FOR YOU, I WOULD DO ANYTHING.

KERNEN: WHO ELSE CALLED YOU.

TRUMP: JOE. JOE ABSOLUTELY CALLED.

KERNEN: DONALD, WE MADE YOU OUT TO BE ALMOST LIKE A G.E. IN TERMS OF HAVING YOUR HANDS IN SO MANY DIFFERENT PARTS OF THE ECONOMY, ALMOST LIKE A PROXY FOR SOMEONE WHO WOULD KNOW ABOUT IT. WHAT DO YOU SEE?

TRUMP: I'VE BEEN SAYING FOR A LONG TIME WE'RE IN A RECESSION.ACTUALLY, I'M BUILDING JOBS ALL OVER THE WORLD, DOING MANY JOBS ALLOVER THE WORLD AND I SEE TH WORLD AS A WHOLE DOING VERY WELL.I SEE THE UNITED STATES DOING VERY POORLY AND REALLY IN A RECESSION AND PROBABLY THE SADDEST THING OF ALL, JOE, IS SOMANY PEOPLE DON'T WANT TO INVESTIN THE UNITED STATES.THEY TALK ABOUT RUSSIA INDIA, ABOUT CHINA, ABOUT ALL OF THESE DIFFERENT COUNTRIES.ALL OF WHICH I'M IN, SADLY I'M IN.I'D RATHER BE DOING THINGS IN THE UNITED STATES.BUT THE UNITED STATES IS NOT A GOOD PLACE TO INVEST RIGHT NOW NOT DOING WELL.THAT BEING SAID THERE, ARE A LOTOF GREAT INVESTMENTS TO BE MADE AND A LOT OF MONEY WILL BE MADE SHORTLY IN THE UNITED STATES.BECAUSE THINGS I COULDN'T BUY TWO YEARS AGO NOW I'M BUYING.

KERNEN: YOU KNOW WHOSE FAULT A LOT OFTHIS IS, DON.I KNOW YOU HAVE SOME OTHER PEOPLE TO BLAME.I DON'T KNOW IT STARTED WITH SUBPRIME IT CAUSED THE FED TO LOWER INTEREST RATES. IS IT THE FED'S FAULT?

TRUMP: I THINK THE FED IS DOING A GREAT JOB LATELY.THEY ARE A LITTLE SLOW.THEY ARE DOING A GREAT JOB.I THINK THEY STOPPED A RUN ON THE BANK.I HEARD WILBUR SAY SOMETHING SIMILAR LAST MONTH ON YOUR SHOW. THEY STOPPED A RUN ON THE BANK WHEN THEY DID THEIR NUMBER ONBEAR STERNS.YOU PROBABLY WOULD HAVE FIVE, SIX, SEVEN, MAYBE TEN COMPANIES GO DOWN THE TUBES. SEEMS UNFAIR FOR THE PEOPLE AT BEAR STEARNS, BECAUSE THEY DID GET -- THEY GOT HAMMERED, BUT I THINK THEY PROBABLY MADE A GREAT MOVE.I THINK THEY HAVE BEEN VERY, VERY SLOW AND NOW THEY ARE DOING A VERY GOOD JOB.

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