[ad_1]
President Donald Trump regards Chinese President Xi Jinping more as a friend than US Federal Reserve Chairman Jerome Powell said CNBC's Jim Cramer on Monday.
Among Mexican presidents Andres Manuel López Obrador, Powell and Xi, Cramer said that Trump suggests, in his words, that he believes that "Powell is probably the worst for the country" and that "Powell is not not a friend ".
Trump on CNBC on Monday criticized the Fed for raising interest rates too quickly, calling the four hikes last year – ending with one in December, when financial markets were melting in late 2018 – "very, very disturbing ".
"It's more than Jay Powell – we have Fed members who did not really care – they are not my people, but they certainly did not listen to me because they were not there. they made a big mistake: they raised interest rates far too quickly, "Trump told CNBC's Joe Kernen on" Squawk Box. "
The president also criticized central banks for their balance sheet runoff program, which allows the Fed's portfolio bonds to mature without replacing them. The balance sheet had reached over $ 4,500 billion in early 2015 as a result of several rounds of quantitative easing, or bond purchases, aimed at reviving the economy after the 2008 financial crisis.
The Fed – responding to CNBC's response request after remarks by Cramer and Trump – said it has no comment.
Trump has widely and repeatedly criticized Powell in the past, and would have even discussed the firing of the Fed chairman, whom he named. Powell reacted in January to the reports, saying that he would not resign if Trump asked him.
On Monday, the president also told CNBC that Xi was "in fact an amazing guy" and that they had "excellent relations," despite the ongoing trade war between Washington and Beijing.
WATCH CNBC's complete interview with President Trump
[ad_2]
Source link