Donald Trump said on Tuesday that he was "not even a little happy" with the president of his designated US central bank, and said the Fed made a mistake by raising interest rates, interviews in the Washington Post.
"Until then, I wasn't even a bit happy to have chosen Jay (Powell, president of broadcasters), not even a little, and I don't blame anyone, but what I told you was that the Fed was completely free of what it did, "the president said, in a new layer of criticism of the central bank and its president.
In this 20-minute interview, the president once again accused the Fed – an institution he has described as "crazy" – damaging the economy by raising interest rates. "I made a deal and the Fed didn't help me," the president said. "They made mistakes because I instinctively, my instincts told me sometimes that other people's brains can never tell me," the president said.
Trump's unrelenting criticism of Jerome Powell and the central bank goes against the tradition of public reserves adopted by most of his predecessors. Mr. Trump did not hesitate to openly taunt the Fed when there were problems in the economy. Wall Street falls: "The Fed falls on the head". General Motors cut thousands of jobs: "The Fed is next to the plate".
Trump is far from the only one worried about Fed tightening rates after almost a decade of free money. Some economists fear it will kill an almost perfect economy, with 3.5% GDP growth in the third quarter and unemployment at 3.7%, the lowest in 48 years, and inflation under control.
The issuing bank attempted to explain that for the time being the rent rate was still continuing to drive growth and that it had to gradually increase the interest rate to avoid overheating.
If new increases are expected in December, Monetary Committee officials – who set interest rates – now emphasize that they will look closely at economic statistics to determine the next increase.
Jerome Powell, who came to power in February, will have the opportunity on Wednesday if he doesn't respond to the president – this is not the type of house – at least to clarify the reason again. He will give a highly anticipated speech by the market in New York starting at 17:00 GMT.
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