[ad_1]
The president has become increasingly bold in his efforts to influence the Fed, which he and his advisers blame economic growth for not reaching the annual rate of 4% recorded last year as he l? had promised. He has repeatedly criticized Fed Chairman Jerome H. Powell, handpicked, and called the Fed a counterbalance to its economic policy.
The president's remarks were inspired by an economy that, despite some signs of weakness, continues to perform well. The Ministry of Labor reported Friday that employers had created 196,000 additional jobs last month, a rebound after an unexpected February. Economic analysts surveyed by FactSet expected a gain of about 170,000 jobs in March. It was the 102nd consecutive month of job gains.
[Read more about the March jobs report, which showed a return to solid growth.]
The Fed raised interest rates four times last year, in the current target range of 2% to 2.25%, prompting frequent and historically unusual criticism from Trump.
But since then, the Fed has shifted away from the steady rise in interest rates, in the face of stock market turbulence, rising global and national economic risks, and Trump's pressure. The central bank expects slower economic growth this year than in 2018 and has reduced its growth forecast to 2.1%.
At the last Fed meeting in March, Powell stressed that the central bank would adopt a "patient" approach and that it does not exclude a reduction in interest rates if the data shows that the economy flickered.
Mr. Kudlow acknowledged that the White House, which has continued to forecast strong economic growth in his country, is seen as a source of economic distress abroad.
"We are facing a global slowdown. You know, recession, maybe, "said Kudlow. "Europe is not doing well. Germany itself may be in recession. It troubles us. "
[ad_2]
Source link