Trump (Again) Expresses His Displeasure with Federal Reserve Raising Interest Rates


"It would appear that Mr. Trump would like to keep the USA dollar a little on the weak side in order to remain competitive", said CMC Markets chief markets analyst David Madden. Against the Swiss franc CHF=, the dollar weakened to its lowest since July 9, last at 0.987.

Trump has broken from the majority of Republicans on monetary policy with his support for low interest rates to stimulate the economy.

Trump nominated Powell and was told by key advisers that Powell would not move aggressively to raise interest rates.

With the federal interest rate climbing twice this year, the organization has planned two more quarter-point rate hikes in 2018 and three more in 2019.

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President Trump used an interview to take the Federal Reserve and its chairman to task on Monday. Corker - like Scott a member of the Senate Banking Committee - would not divulge details of their private conversation but said he frequently brings up issues related to preserving the independence of the Fed when he meets with people like Powell.

But Kohn said it does put more pressure on Powell and other Fed officials to explain their actions and their perspectives.

The Federal Reserve operates independently of the government, as it is sometimes compelled to make interest-rate decisions that are meant to be good for the economy in the long run but that may be politically unpopular.

"And I think the euro is being manipulated also", Trump said.

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Most analysts think that Trump's criticism will have little effect on the Fed's rate-hike plans, given the US central bank's legal independence.

Trump has, however, made reducing US trade deficits a priority, and the combination of rising interest rates and a strengthening dollar poses risks for export growth. Most right-leaning economists and lawmakers say keeping rates low could risk rampant inflation and financial market bubbles.

Donald Trump chose Jerome Powell previous year to head the United States central bank, promoting a soft-spoken centrist to replace Janet Yellen.

Almost eight in 10 economists believe the Fed's interest rate policies are "about right", according to a survey released Monday by the National Association for Business Economics. "I'll let you know in seven years". But Trump has repeatedly lashed out at Fed Chairman Jerome Powell.

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Donald Trump's remarks are the most personal criticism of Jerome Powell's performance so far.