[ad_1]
President Trump reiterated his complaints that the US Federal Reserve is raising interest rates too quickly in the near term, calling the US central bank "my biggest threat."
"It's independent so I do not talk to him, but I'm not happy what he's doing, because it's going too fast," said Mr. Trump in an interview with Fox Business Network, referring to Fed Chairman Jerome Powell. that he named last year.
"You have looked at the latest inflation figures, they are very low," he said while arguing for a slower increase in interest rates.
The President acknowledged that Mr. Powell had been chosen to replace former Fed President Janet Yellen, and that he was not blaming anyone.
"I put it there, and maybe it's true, maybe it's wrong," he said, adding, "I put a few other people out there for whom I'm not so happy too. For the most part, I am very happy with people. "
In the interview, Mr. Trump said that Mr. Powell was "extremely conservative, let me use a nice term." But he was moved when asked directly whether Mr. Powell would be unemployed if his decisions turned out to be wrong. "So look, I'm not happy what he's doing," he said.
The channel aired excerpts before an interview with the president on Tuesday night.
In the interview, Mr. Trump said that Mr. Powell was "extremely conservative, let me use a nice term." But he was moved when asked directly whether Mr. Powell would be unemployed if his decisions turned out to be wrong. "Well number one, I do not name before four, five," said the president, "so look, I'm not happy what he's doing."
President Trump has described the mistakes of the Federal Reserve's rise as "wrong," suggesting that the central bank was to blame after Wednesday's stock market crash. Photo: AP Images
The law is vague as to whether a president can dismiss a president of the Fed, who serves a four-year term.
Trump has appointed three of the current four members of the Fed's board of governors: Powell, Vice President Richard Clarida and Vice President for Supervision Randal Quarles. Three other Trump appointments on the board are still waiting for confirmation from the Senate.
The president's comments are his latest criticism at the central bank. On October 9, he reiterated his dissatisfaction with the Fed and was convinced that inflation remained under control. "I think the Fed has gone crazy," he told reporters the next day, in full liquidation.
Powell said earlier this month that he sees few signs of the economy overheating, but has defended the Fed against Trump's criticism that policymakers are raising rates too much. quickly.
Consumer prices, a general measure of inflation, have risen less than expected for the second month in a row in September, the Commerce Department said last week, suggesting that price pressures remain under control. In the 12 months to September, overall prices increased 2.3%, the smallest change from year to year since February.
The Fed's preferred inflation gauge, the Consumer Expenditure Index, rose 2.2% in August from the previous year, which is above the 2% target set by the Fed. Fed.
Trump's repeated criticism marks a break with previous White House protocols, dating back to the early 1990s, not to comment on monetary policy or otherwise criticize the central bank.
Former Fed President Janet Yellen said Monday that the president's attacks on the Fed were "counterproductive".
"There is no law against that," she said. "But I do not think it's wise."
Write to Kate Davidson at [email protected]
Source link
