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President Trump
Donald John TrumpTrump pushes back data from recent polls and says the internal numbers are "the strongest we've seen so far". The state legislator of Illinois apologizes for the photos showing Trump Scaramucci's mock murder, bringing together a team of former Cabinet members to express their views. against Trump. MORE Monday called on the Federal Reserve to boost what it called a "very strong" economy as the White House tries to sabotage growing fears of a global recession.
In a pair of tweets on MondayTrump reiterated his call to the Fed and its president, Jerome Powell, to cut interest rates. The president simultaneously touted the strength of the US economy while tearing the central bank for failing to fix it.
Trump also accused Democrats of trying to force the economy to hurt his chances before the 2020 elections, but without explaining how they were doing so.
….. The Fed's rate, over a fairly short period, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well. If this happens, our economy would be even better and the world economy would grow stronger and faster, which would be good for everyone!
– Donald J. Trump (@realDonaldTrump) August 19, 2019
Trump has criticized the Fed steadily since the bank raised interest rates four times in 2018. The president has long criticized the central bank and Powell any fall in the stock market or information that economic data would be slow, pushing the Fed to reduce its rates.
Earlier this monthTrump accused the Fed of preventing US exports by keeping interest rates relatively high compared to other economic powers and suggested that the central bank weaken the dollar by lowering interest rates .
But Trump's scapegoats on the Fed have intensified over the last two weeks as signs of an impending recession multiply. While Trump blamed the Fed for the economic turbulence, economists largely blamed the slowdown on the costs and anxiety caused by Trump's trade war with China.
Trump and the best White House collaborators have tried to remove the concerns about the strength of the economy while blaming the media and Fed for the increasing probability of a recession.
"I do not see a recession at all," said an economic adviser to the White House. Larry Kudlow
Lawrence (Larry) Alan KudlowMORE says on "Fox News Sunday".
"Trump's pro-growth program, which I believe has been successful, we will continue with that."
Trump's latest attacks come just days before Powell and Fed officials meet in Jackson Hole, Wyo., For the central bank's annual summer symposium on monetary policy. Powell will give a well-attended speech on Friday morning in his first public statements since the Fed's interest rate cuts on July 31.
Since the last Fed meeting, Trump has announced it will impose a new 10% tariff on Chinese goods, worth $ 300 billion.
US long-term Treasury bond yields also fell against short-term US bond yields on Wednesday, pointing to a flight to safety and investor fear. The inversion of the yield curve, which generally announces a recession in the next 12 to 18 months, has led US stocks to their most severe losses of 2019.
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