President Donald Trump on Friday said actions by the Federal Reserve, the European Union and China are damaging the U. S. economic outlook
A day after Donald Trump criticized in a CNBC interview the Federal Reserve’s recent interest-rate hikes and said the European Union and China were deliberately weakening their currencies, the president on Friday amplified this criticism in a series of tweets. Trump also said he was ready to place tariffs on $500 billion in Chinese products.
On Twitter, Trump complained again about the Fed’s rate hikes, saying they were working at cross purposes with the administration’s economic program. The Fed has hiked rates five times since Trump took office and has penciled in two more quarter-point increases this year. The president seemed particularly upset that the rate hikes have pushed up the dollar’s market value.
…. The United States should not be penalized because we are doing so well. Tightening now hurts all that we have done. The U. S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals. Debt coming due & we are raising rates – Really?
Asked for his response, St. Louis Fed President James Bullard seemed unperturbed by Trump’s criticism.
