Trump fired a new warning shot at the Fed over rising interest rates


donald trump jerome powell
President
Donald Trump and Federal Reserve Chair Jerome
Powell

Drew Angerer/Getty
Images


  • President Donald Trump accused Federal Reserve Chairman
    Jerome Powell of getting joy out of raising interest rates in an
    interview with The Wall Street Journal published on Tuesday.
  • Trump has made clear he sees rising interest rates as a
    threat to the broader US economy.
  • When asked whether he regrets nominating Powell to chair the
    Federal Reserve, Trump said it’s “too early to say, but maybe.”
  • Historically, presidents are expected to avoid publicly
    criticizing the Fed to avoid the appearance of inappropriately
    influencing monetary policy.

President Donald Trump on Tuesday accused Federal Reserve
Chairman Jerome Powell of getting joy out of raising interest
rates
in an interview with The Wall Street Journal
published on
Tuesday.

“Every time we do something great, he raises the interest rates,”
Trump said, adding that Powell, “almost looks like he’s happy
raising interest rates.”

Historically, presidents are expected to avoid publicly
criticizing the Fed to avoid the appearance of inappropriately
influencing montary policy.

Trump has made clear he sees rising interest rates as a threat to
the broader US economy. He has broken with longstanding
traditions in presidential politics by openly criticizing the
Fed.

When asked whether he regrets nominating Powell to chair the
Federal Reserve, Trump said it’s “too early to say, but maybe.”

Trump’s comments on Tuesday come a week after he described the
Fed as his “biggest threat,” the Associated
Press
reported. The president also had words for Powell in
the AP report, and grumbled at the Fed’s plan to keep raising
interest rates into 2019.

“I’m not happy with what he’s doing because it’s going too fast,”
Trump said.

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