Trump fed up with Fed chairman Jerome Powell over interest rate hike
His criticism of monetary policy marks a break with a longstanding tradition of president’s respecting the Federal Reserve’s independence
Washington — US President Donald Trump said on Monday he was "not thrilled" with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the US central bank should do more to help him to boost the economy. In the middle of international trade disputes, Trump in an interview with Reuters also accused China and Europe of manipulating their respective currencies. American presidents have rarely criticised the Fed in recent decades because its independence has been seen as important for economic stability. Trump has departed from this past practice and said he would not shy from future criticism should the Fed keep lifting rates. The president spooked investors in July when he criticised the US central bank’s over tightening monetary policy. On Monday he said the Fed should be more accommodating on interest rates. "I’m not thrilled with his raising of interest rates, no. I’m not thrilled," Trump said, referring to Powell. Trump nominated ...
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