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Although Trump repeatedly said that he thought the Fed was "wrong" in its monetary policy, he also said he "will not fire" to Powell. Trump said in an interview on Oct. 11 that he was "just disappointed" with Powell's decisions.
The president's latest attack on the central bank took place just hours after the Ministry of Labor announced that the number of job opportunities in the US economy reached a record 7.1 million in August. This is after the announcement by the government earlier in the month that the unemployment rate in September had dropped to 3.7%, its lowest level in nearly 50 years.
Recent economic data has helped the Fed's decision-making arm defend its September federal funds rate hike – which is a jump in the third quarter this year.
The Fed and the markets anticipate a fourth rate hike in December. But Trump continued to voice disagreements with the Fed, which led some to fear that the institution's independence would be threatened. US officials have said Trump respects the Fed's historic ability to make decisions without political interference. Former Fed Chairman Janet Yellen said Friday that she thought the Fed would pursue its economic strategy even with Trump's open criticism.
"The Fed is certainly not crazy about what it does," Yellen was quoted as saying at the World Knowledge Forum.
Two other senior officials also backed Powell's independence last week: Mark Carney, Governor of the Bank of England Governor and Christine Lagarde, Executive Director of the International Monetary Fund. During a CNBC-chaired debate, Carney congratulated Powell, noting that he "is an individual who really understands the plumbing of American and global financial systems."
Lagarde added that she would not associate Powell with insanity.
"The members of his board are extremely serious, solid and eager to base their decisions on real information and the desire to communicate it properly," said Lagarde.
– CNBC
Tom Franck
contributed to this report.
WATCH: Trump says the Fed has gone crazy
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