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First against Mexico and NAFTA; and then against China, the European Union (EU) and NATO, and now President Donald Trump is taking it against the Federal Reserve (Fed), its own central bank, to raise interest rates. interest.
The EU and others have manipulated their currencies and lowered their interest rates, while the US is raising their rates, strengthening the dollar, which leaves us our great competitive edge ", wrote the president in his account Friday morning. Twitter .
China, the European Union and others have manipulated their currencies and their interest rates going down, while the US is increasing rates as dollars get stronger and stronger every day that passes, which takes away our competitive advantage. usual, not an equal playing field …
– Donald J. Trump (@ realDonaldTrump) July 20, 2018
"As d. we are not on an equal footing, "he added, the president in his social network.
But the secretary at Sor Steven Mnuchin said Saturday that the president had no plans to increase pressure on the Fed when it criticized its decision to raise interest rates.
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Before the media as part of the G20 summit in Buenos Aires, Mnuchin said she could not comment on why the president made these statements, but do not believe that they were wrong.
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"I Can Guarantee It Because I'm # I have spoken to the President and his intention is in no way to pressure the Fed, "said the Treasury Secretary. "I just want to assure you that this is not intended to put pressure on the Fed or to compromise its independence."
In an interview with CNBC, President Trump said he was not happy with the Fed's rate increases and threatened to raise rates to China.
For the Wall Street Journal, his comments against the Fed could become one of their new routines, which would put the central bank in a potentially uncomfortable position as it plans to further increase rates.
The Fed has raised interest rates this year twice, up to a range of 1.75 to 2.00 percent, and is expected to do twice as much in the rest of the year.
Trump tweeted that the Fed's interest hikes "hurt everything we did"
…. The United States should not to be penalized because we are doing so well. Tightening now hurts everything we did. The United States should be allowed to recover what has been lost due to the manipulation of the illegal currency and BAD Trade Deals. Debt maturing and we are raising rates – Really?
– Donald J. Trump (@ realDonaldTrump) July 20, 2018
Analysts have agreed that the appreciation of the dollar has more to do with the good economic growth that the country is recording, thanks in large part to Trump's own policies, such as tax cuts.
"(But) the tax reform would lead to further acceleration of inflation," said Mazen Issa, exchange rate strategist at TD Securities, New York
Faced with inflationary pressures, the Fed is accurately reporting its target rate.
The Fed promises to further raise interest rates
The Wall Street Journal recalled that Trump has repeatedly referred to it as "low person interest rate ", reflecting his career in real estate
" Few industries have benefited as much from the Fed's low rates over the past decade (between 0 and 0.25% between December 2008 and the same month of 2015) to boost growth like the real estate sector "In an interview with CNBC, Trump also said that he was ready to raise tariffs against China to high of 500,000 million dollars, that is practically all that the Asian country exports to him. One year
At the beginning of July, it already imposed taxes on China for 34 billion pesos and others for 16 billion dollars
. for 200,000 million. Yesterday, he threatened to raise them up to 500,000 million, virtually everything China sells in the United States. "Has he ever reached 500 (one billion)?" CNBC asked Trump, and he replied that he is "ready to go to 500."
"I'm doing the right thing for our country, we've been cheated by China for a long time," he said.
With information from Agencia Reforma and AP
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