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"I'm not enthusiastic," he said in an interview with Joe Kernen of CNBC. "Because our economy is growing and every time that happens, the Fed wants to raise rates again, I'm not really happy, but at the same time I let them do what they think best, but I We do not like that about what we do. "
Markets reacted to Trump's observations with a decline in the stock market, the dollar and Treasury yields. The Fed has not yet responded to the request for comment
Trump favored the approval of a mbadive tax break at the end of last year, which cut the corporate tax rate from 35% to 21% and lowered rates In exchange, the president has seen strong stock market rises and a well-oriented economy to grow by 3% in 2018, well above his average post-recession rate before
Powell had stated that he believed that the economy was strong enough to allow the Fed to continue its rate trajectory, which remained at a high level. historically low during the recovery.
Trump also said that he was concerned about the timing of the Fed's decision, which will put the United States in a "disadvantaged" position, at a time when its counterparts such as the European Central Bank and the Bank of Japan maintain an expansive monetary policy.
The President acknowledged that his comments were unusual, but added that he did not care too much. "I'm just saying the same thing I would have said as a private citizen," he said, "Some may say," Oh, maybe you should not say that like President "change."
"I do not like, after all the work we do for the economy, see rates go up," Trump reiterated
President's comments immediately drew criticism: the Fed's independence from political interference has always been a mark of its existence, and these observations have few precedents. Former Dallas Fed President Richard Fisher told CNBC that Trump was irrelevant: "One of the hallmarks of the great US economy is maintaining the independence of the Reserve Federal. " No president should interfere with the functioning of the Fed. If I were President Powell, I would ignore these statements and continue to do my job, and hope that he will do it. "
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