President Donald Trump is attacking the Federal Reserve again, telling a newswire that he is “not thrilled” Fed Chair has raised interest rates in his time in the White House.
Speaking in an interview with Reuters, Trump griped that the central bank has not been “accommodating” his administration, suggesting that he may have regrets for nominating Powell.
“I don’t have an accommodating Fed. Am I happy with my choice? I’ll let you know in four years. I’ll let you know in seven years,” he said.
“I’m not thrilled with his raising of interest rates. No, I’m not thrilled. We’re at a – we’re negotiating very strongly – I don’t call it a trade war – we’re negotiating very powerfully and strongly with other nations. We’re going to win. But during this period of time, I should be given some help by the Fed.”
He was also asked if he supports an independent Fed, replying that he wants the Eccles Building to do what’s best for the country.
This comes a few days after Trump reportedly slammed Powell in front of Republican donors at a Hamptons fundraising event.
The Wall Street Journal reported this week that Trump’s advisers informed him that Powell would support easy money policies, not raising rates, which he has done five times since Trump became president.
Trump also accused China and the European Union (EU) of “manipulating their currency.”
“I think China is manipulating their currency, absolutely,” he said. “And I think the euro is being manipulated also. … And what they are doing is making up for the fact that they are now paying a lot for – hundreds of millions of dollars, and in some cases billions of dollars – into the United States Treasury – and so they’re being accommodated and I’m not, and I’ll still win.”
For the past several years, the Chinese yuan has appreciated in value. It has only been on the decline when President Trump imposed tariffs on billions of dollars worth of good.
The euro is falling apart because Mario Draghi is incompetent.
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