Trump critical of Fed interest-rate rises

Posted July 23, 2018

Trump's tweet on Friday followed more extensive criticism he made of the Fed's rate hikes in an interview with CNBC in which he said, "I don't like all of this work that we're putting into the economy and then I see rates going up". "I want them to do well", Trump said.

An interview with the US President was broadcast this morning where he said the US was ready to go with more tariffs on about half a billion dollars worth of Chinese exports.

The Fed has raised interest rates five times since Trump took office in January 2017, with two of those coming this year under Chairman Jerome Powell, the president's pick to replace Janet Yellen.

U.S. President Donald Trump has indicated that he's willing to hit every product imported from China with tariffs, in another escalation of the trade war.

Trump has ordered the Commerce Department to investigate whether auto imports pose a threat to USA national security that would justify tariffs or other trade restrictions.

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Around 90 consumer items, many of them popular with urban middle-class voters, will be impacted by the tax cut. Asked about the revenue impact of the tax rate cut, Goyal said it will only be "nominal".

"The Fed has often faced political pressures - from Congress, presidents, Treasury secretaries and innumerable outside groups", said Kroszner, an economics professor at the University of Chicago. Chinese Commerce Ministry spokesman Gao Feng last week called those accusations "groundless" and said that the US trade penalties contravene rules at the World Trade Organization.

The comments follow his criticism Thursday in an interview in which he called the rate hikes a threat to the USA economy.

The rhetoric marks ramps up the U.S-China trade war another step, though each country has issued just $34 billion in tariffs so far.

Fed spokeswoman Michelle Smith declined to comment. The Fed, concerned about too rapid an expansion that is fueled in part by the enormous fiscal stimulus ushered in by the White House, is slowly raising rates to keep the economy from overheating.

Trump said he is "not thrilled" about the Fed's recent interest rate hikes.

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Her lawyer, Robert Driscoll, denied Butina is a Russian agent and has been co-operating with the government. The goal was to influence Republican Party to adopt views more favorable to Russian Federation .

The president has been silent about Fed policy until now, in keeping with a tradition that stretches back through at least three administrations of both parties of refraining from commenting on central bank decisions in respect for its independence.

Trump also said the U.S.is "being taken advantage of" on trade and monetary policy. In June, the nation's central bank raised rates for the seventh time since December 2015, in a move created to slowly cool the economy. The US dollar lost to 0.9926 Swiss franc from 0.9990 Swiss franc, and it went down to 1.3127 Canadian dollars from 1.3252 Canadian dollars.

But one JPMorgan economists thinks Trump's public desire for lower interest rates could actually backfire.

It's always been speculated that the taboo of commenting on USA monetary policy could change under Trump, who slammed the Fed during his election campaign and has demonstrated repeatedly his willingness to flout the conventions and sensibilities of establishment Washington. President Richard Nixon encouraged Arthur Burns, the Fed chairman at the time, to help boost economic growth ahead of Nixon's 1972 landslide re-election.

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The PM also warned Mr Trump not to ignore the "malign behaviour" of Russian Federation when he meets Vladimir Putin on Monday. A spokesperson for Prime Minister Theresa May said Trump was "wrong" to share the videos.