Trump ‘not thrilled’ with Fed chairman over interest rate hikes

USA presidents rarely criticize the Fed, whose independence is considered essential to economic stability.

Trump has also publicly criticized Powell several times this summer and reportedly did so again Friday at a GOP fundraiser in NY, saying he thought the chairman would support "easy money".

Trump used the phrase "not thrilled" on Monday to describe his reaction to rate hikes under Fed Chair Jerome Powell who Trump selected for the job six months ago.

Trump said on Monday he was "not thrilled" with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the USA central bank should do more to help him to boost the economy. "I should be given some help by the Fed". It followed reports earlier in the day that Trump had criticised Powell at a private GOP fundraiser.

Rieder and Romans will also discuss upcoming trade talks between the United States and China.

The Fed is raising rates in an effort to keep prices stable and to prevent the economy from overheating, but Trump has complained the increased rates are obstacles to economic growth.

American presidents have rarely criticized the Fed in recent decades because the independence of the Fed is seen as important for economic stability.

Car Slams Into Barriers Outside British Parliament
He added: "My heartfelt thanks goes to the courageous first responders who were so quickly on the scene following the attack". In Tuesday's incident, the vehicle slammed into barriers that had been extended following the Westminster Bridge attack.

And a narrow gap between short-term and long-term U.S. Treasury debt yields has the attention of several Fed policymakers as a signal that growth is set to slow, and further rate hikes could trigger a recession.

Presidents have historically avoided commenting on Fed policies.

The Fed has been gradually raising interest rates since the end of 2015, with five hikes coming under Trump.

The Federal Reserve operates independently of the government, as it is sometimes compelled to make interest-rate decisions that are meant to be good for the economy in the long run but that may be politically unpopular. Two, comments like these will produce diminishing returns for the president.

"Of course the president respects the independence of the Fed", the White House spokeswoman Lindsay Walters told Business Insider at the time.

Donald Trump's remarks are the most personal criticism of Jerome Powell's performance so far.

The U.S. dollar was trading lower against other major currencies following Trump's comments. Typically, the greatest influence a president has over the Fed is the appointment of governors. He said the Fed was designed so that it would be accountable to policy makers and the public, but it was also created to be somewhat independent from jawboning from the White House.

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