Friday, 14 December, 2018

I don't like Fed raising interest rates so quickly, says Trump

The Federal Reserve is not pleasing President Trump with its policy on interest rate increases The Federal Reserve is not pleasing President Trump with its policy on interest rate increasesGETTY IMAGES
Rhonda Young | 11 October, 2018, 02:54

With significant drops in the Dow Jones Industrial Average, S&P 500, and broad-based stock market indexes, President Trump said markets are in a "correction", and decried the Federal Reserve's recent rises in interest rates and signals for more to come. "But I really disagree with what the Fed is doing, okay?"

"I don't like it", Trump said Tuesday at the White House, referring to the Fed's rate hikes, the most recent of which was September 26.

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She added, "God, the Grinch grew a heart, albeit at the last minute". I believe you have it in your heart to do the right thing here. I think a lot of this probably has to do with Meghan ".

According to Donald Trump, before departing for another campaign event in Iowa: "well, I like to see low interest rates. They're so tight. I think the Fed has gone insane", Mr. Trump told reporters after landing in Erie, Pa., for a political rally.

Trump was briefed on the market turmoil earlier in the day, a White House official said.

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Trump has previously voiced his displeasure with the Fed's rate hikes, saying he would rather shift his focus to the continued growth of the USA economy and creating more jobs. By convention presidents rarely comment on central bank policy because the Fed is meant to be independent of politics.

After the central bank announced its third increase of the year in September - a quarter-point boost that raised the benchmark federal funds rate to a target range of 2 per cent to 2.25 per cent - Trump said he was "not happy" about it.

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