WASHINGTON: US President Donald Trump launched a fresh assault against Federal Reserve chairman Jerome Powell, saying he threatened economic growth and seemed to enjoy raising interest rates. In an interview with the Wall Street Journal, Trump hinted that he regretted nominating Powell in the first place.
“Every time we do something great, he raises the interest rates,” Trump told the Journal.
He “almost looks like he’s happy raising interest rates,” the president added.
The criticism comes after Trump last week called the Federal Reserve his “biggest threat” and said Powell was moving “too fast” in hiking rates.
The Fed has raised interest rates three times this year as it seeks to prevent a vibrant economy from overheating, and it is widely expected to raise rates again by 0.25 per cent in December.
US presidents usually remain silent on such issues in respect towards the Fed’s independence. Trump has previously called Fed policies “crazy.” — Reuters
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