Trump (Again) Expresses His Displeasure with Federal Reserve Raising Interest Rates

Cornelia Mascio
Agosto 21, 2018

"I'm not thrilled with his raising of interest rates, no, I'm not thrilled", he said.

U.S. President Donald Trump said on Monday he was "not thrilled" with Federal Reserve Chairman Jerome Powell for raising interest rates and accused China and Europe of manipulating their respective currencies.

Trump's comments come a month after he said on CNBC, "I'm not thrilled" that the federal reserve was increasing borrowing costs at the risk of slowing economic growth.

The Fed has raised interest rates seven times since 2015 after slashing them during the 2008 recession as the USA experiences record low unemployment and stable inflation. "The other countries are accommodated", Trump said.

While many US presidents have chafed at the Fed's inclination to increase rates and curb inflation, few if any have been as outspoken as Trump in their criticisms of the USA central bank.

Trump has also publicly criticized Powell several times this summer and reportedly did so again Friday at a GOP fundraiser in NY, saying he thought the chairman would support "easy money".

USA stocks dipped after Trump's comments to Reuters and the dollar edged down against a basket of currencies.

Trump and National Economic Council Director Larry Kudlow have both called on Powell to ease off rate hikes to keep the booming economy growing and dismissed concerns about inflation. In July, the president's criticism of the Fed also caused the dollar to weaken.

The Fed has raised interest rates five times since Trump took office in January 2017, with two of those coming this year under Powell.

Last November, Trump nominated Powell as Fed Chairman to replace Janet Yellen when her term expired in February.

After leaving its policy interest rates at historic lows for about six years after the 2008 global financial crisis, the Fed began slowly raising rates again in late 2015.

Altre relazioniGrafFiotech

Discuti questo articolo

Segui i nostri GIORNALE