Trump Says He's 'Not Thrilled' About US Interest Rate Hikes


President Trump took a pot shot Thursday at the Federal Reserve for eyeing another interest rate hike that could slow America's strong economic growth.

President Donald Trump upended almost three decades of presidential precedent by commenting on the Federal Reserve's interest rate policy on Thursday, but at least one economist thinks the president's remarks could come back to bite him.

"The secretary will nearly certainly hear complaints about these remarks at the G20, especially in his bilateral discussions", said Mark Sobel, a former senior Treasury official who left earlier this year, after serving as US executive director at the International Monetary Fund.

Trump said he was only expressing his opinion as a private citizen by criticizing the move to raise interest rates. "Debt coming due & we are raising rates - Really?" he tweeted.

"I am not happy about it", Trump said.

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Speaking about Fed policy in his interview with CNBC, Trump said he is "letting them do what they feel is best".

That said, Trump added in the interview that "I put a very good man in at the Fed", referring to the current chair, Jerome Powell. "No president should interfere with the workings of the Fed", Fisher said. If things turn sour, however, Trump's comments suggest that could change. And because we live in a reality where logical human behavior reigns supreme, the president has remained demure on all Fed-related topics this morning...

Trump has ordered the Commerce Department to investigate whether auto imports pose a threat to USA national security that would justify tariffs or other trade restrictions.

After the interview, Trump reiterated criticism of planned interest-rate hikes by the Federal Reserve, saying in a Twitter post that tightening policy would diminish any United States advantage in trade and exacerbate losses from "BAD trade deals".

Trump's rebuke broke with more than two decades of White House tradition of avoiding comments on monetary policy out of respect for the independence of the USA central bank. The Treasury didn't immediately respond to a request for comment on the president's remarks on the dollar.

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A spokesperson for the Fed declined to comment.

The comments raised eyebrows in the United States, where presidents are expected to avoid criticism of the central bank in deference to its independence.

Trump is limited in how much direct pressure he can put on the Fed chief.

Trump has ordered Commerce to investigate whether auto imports pose a threat to U.S. "Independence does not mean "above the law" or "above the will of the people" and I am always just flabbergasted when some members of the Fed, or former members of the Fed, take the attitude that the Fed somehow does not report to the government".

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