Trump launches fresh attack on Fed chairman
US President Donald Trump launched a fresh assault Tuesday against Federal Reserve chairman Jerome Powell, saying he threatened economic growth and seemed to enjoy raising interest rates. In an interview with the Wall Street Journal, Trump hinted that he regretted nominating Powell in the first place.
“Every time we do something great, he raises the interest rates,” Trump told the Journal. He “almost looks like he’s happy raising interest rates,” the president added. The criticism comes after Trump last week called the Federal Reserve his “biggest threat” and said Powell was moving “too fast” in hiking rates. The Fed has raised interest rates three times this year as it seeks to prevent a vibrant economy from overheating, and it is widely expected to raise rates again by 0.25 percent in December.
Trump told the Journal it was “too early to say, but maybe” he regretted nominating Powell for the four-year term he started in February. “He was supposed to be a low-interest-rate guy. It’s turned out that he’s not,” Trump added.
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