Trump renews the attacks of the Federal Reserve in the midst of a controversy over his two choices



"If the Fed had done its job properly, which it did not do, the stock market would have grown by 5,000 to 10,000 additional points, and the GDP would have been well above 4% instead by 3% … with almost zero inflation, "Trump tweeted.

He added: "The quantitative tightening was a killing, should have done exactly the opposite!"

The comments come amidst the open opposition of the Senate to its two choice of seats on the Board of Governors of the Federal Reserve, former Republican presidential candidate Herman Cain and economic commentator Stephen Moore.
Four Republicans said last week that they would not vote to confirm Cain, a former Republican presidential nominee who previously served on the Kansas City Fed 's board of directors, due to the fact that he has not been elected. allegations of sexual harassment against him. He denied the allegations.

At the same time, Moore, a former member of the Wall Street Journal editorial board and CNN analyst, was strongly criticized for reversing his opposition to low interest rates while President Barack Obama was in office. .

A review of Moore's speeches and interviews on CNN's KFILE radio revealed that he had always defended self-proclaimed "radical" views on the economy and the government, including supporting the elimination of corporate income tax and the federal government.
Massachusetts Democratic Senator Elizabeth Warren on Friday called Moore "unqualified and unsuited" to occupy a seat at the Fed, writing in a letter to Moore stating that he had "a long history of utterly inaccurate statements regarding an economic policy that seems to serve political purposes ".

But White House advisers made it clear that the president wanted to name people who shared his economic views. He has repeatedly criticized the Fed and specifically called on its chairman, Jerome Powell, a Trump group candidate, to raise rates.

Other changes appear to be pending at the moment. Last month, Fed officials decided to keep interest rates unchanged, agreeing to stand indefinitely on a prolonged pause on rate changes and saying the Fed would only increase rates. not its rates in 2019. The last rate hike came in December.

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