Trump hits the Fed about high interest rates: "They have no idea!"

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President TrumpDonald John Trump Armed Services Republicans Advocate for Defense Budget 0B Amash Leaves House Freedom Caucus Following Accusation of Trump Amash Leaves House Freedom Caucus after Trump's Indictment On Tuesday, the US Federal Reserve's complaint is that the Federal Reserve "knows nothing" amid a series of tweets defending its use of tariffs and alleging that several currencies had been devalued against the dollar.

Trump has long criticized the Fed for its decision to raise interest rates. He reiterated this point Tuesday for the second consecutive day, while sharing a Bloomberg view that the low cost of traveling to Europe had resulted in an overabundance of tourists.

"This is because the euro and other currencies are devaluing against the dollar, which puts the US at a considerable disadvantage.The Fed's interest rate, which is too high, adds to a ridiculous quantitative tightening. They have no idea! " Trump tweeted.

The Fed has raised its interest rates nine times since 2015 and seven times since the inauguration of President Trump in 2017 in an effort to prevent runaway inflation. Trump has repeatedly asked the bank to cut rates in 2019.

After Trump alleged that the euro and other currencies were devalued against the dollar, he specifically accused China of devaluing its currency in an attempt to offset the impact of US tariffs.

In a series of three tweets apparently aimed at Fox Business Network hosts, Trump defended his strategy of using tariffs to bring China and Mexico to the negotiating table.

"Maria, Dagan, Steve, Stuart V – When you're the big" piggy bank "that other countries have been scamming for years (at an unimaginable level), fares are a great bargaining tool," Trump said. Twitter. , probably referring to Maria BartiromoMaria Sara BartiromoThe Fox Bartiromo: The history of the border should make the news of the evening "every night" Fox's Napolitano rejects the American suggestion of being in a "constitutional crisis". Bolton, Shanahan and Pompeo meet at the Pentagon to discuss military options in Venezuela MORE, Dagen McDowell and Stuart Varney.

Trump had threatened to impose 5% tariffs on Mexican products if the country did not act to curb migration. Both parties reached an agreement last week to avoid tariffs.

The president has always sold the contract as a victory, while several critics had been voiced that Mexico had already planned to do so before the president's tariff threat.

Trump tweeted Tuesday that he was "very happy with the agreement I reached" and continued to tease an aspect of the agreement still undetermined.

"Most of the agreement with Mexico has not been revealed yet!" Trump tweeted. "China is similar, except that it depreciates the currency and subsidizes companies to reduce the effect of the tariff to 25%." So far, little effect on the consumer.The companies will relocate to the United States. United."

The United States and China are engaged in a multi-month long trade war, with the two largest economies in the world imposing equal tariffs on each product. Trump and Chinese President Xi Jinping are expected to meet later this month at the top of the Group of 20 in Japan.

If no agreement is reached there, Trump has hinted that he could impose tariffs on other Chinese products.

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