[ad_1]
READ MORE ARTICLES ON
Donald Trump "pulls his ears" at the Federal Reserve (Fed) and declares "not happy" for US interest rate hikes decided by Washington's central institute , the latest in the June 12-13 meeting of the Federal Open Market Committee (FOMC, the Fed's monetary policy committee)
Donald Trump "pulls his ears" to the Federal Reserve (Fed) and declares "not happy" for the US interest rate hikes decided by the Washington Central Institute, the latest in the June 12-13 meeting of the Federal Open Market Committee (FOMC). Interviewed by CNBC, the US president pointed out that he was not excited about the rate hikes, although he defines "a good man" Jerome Powell, whom he called for replace Janet Yellen as president of the Fed. "Someone will say I should not go crazy because my opinions have not changed," thundered Trump. "I do not like all the work we do for the economy and then see the rates go up," he added. Peter Hooper, Chief Economist at Deutsche Bank Securities, told CNBC how White House pressures played a significant role in the soaring inflation in the 1970s. Lyndon Johnson and Richard Nixon both had pressed the Fed to keep interest rates low to avoid a slowdown in recovery "and what came out was an overheating of the economy, an inflation rate above 10% interest and finally a deep recession. "
(RR – www.ftaonline.com)
Source link
