Trump launches a new lane of criticism against the central bank

Donald Trump said on Tuesday that he "was not even a little happy" with the president of the US central bank he appointed, and said the Fed was making a mistake by raising interest rates, an interview at the Washington Post.
"Until then, I'm not even a little happy to have chosen Jay (Powell, the president of the broadcasting institute), not even a little bit, and I'm not blaming anyone, but what I tell you is that the Fed is completely off the plate with what it is doing, "said the president, in a new lining of criticism against the central bank and its president.

In this 20-minute interview, the president once again accused the Fed – an institution he had already described as "crazy" – of harming the economy by raising interest rates. "I make deals and the Fed does not help me," said the president. "They make a mistake because I instinctively, my instinct tells me sometimes that the brains of anyone else can never tell me," said the president.

Trump's incessant criticism of Jerome Powell and the central bank runs counter to the reserve tradition in public adopted by most of his predecessors. Mr. Trump does not hesitate to publicly taunt the Fed when something goes wrong in the economy. Wall Street falls: "The Fed fell on the head". General Motors cuts thousands of jobs: "The Fed is next to the plate".

Trump is far from the only one to worry about the Fed tightening interest rates after nearly a decade of virtually free money. Some economists fear it will kill an almost perfect economy, with GDP growth of 3.5% in the third quarter and unemployment at 3.7%, the lowest in 48 years, and controlled inflation.

The issuing bank strives to explain that for the moment the level of its rent of money still continues to encourage growth and that it will have to increase "gradually" its rates to avoid overheating.

If a new increase is expected in December, officials of the Monetary Committee – which sets the interest rates – now stress that they will look closely at economic statistics to determine the next increases.

Jerome Powell, who took office in February, will have the opportunity on Wednesday if not to respond to the president – this is not the kind of home – at least to clarify his reasoning again. He will give a highly anticipated speech by the markets in New York from 17:00 GMT.

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