Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Free Webinar - Crude Oil Trading 2023 | Thursday, February 9, 2023 | 01:00PM PST Enroll Now
Trump Says He’s ‘Not Even a Little Bit Happy’ With Fed’s Powell
© Reuters. Trump Says He’s ‘Not Even a Little Bit Happy’ With Fed’s Powell
(Bloomberg) -- President Donald Trump renewed his attack on Federal Reserve Chairman Jerome Powell, telling the Washington Post he’s “not even a little bit happy” with his choice to head the central bank.
“So far, I’m not even a little bit happy with my selection of Jay,” Trump told the Post on Tuesday, using Powell’s nickname. “Not even a little bit.”
Trump, who has repeatedly criticized the Fed for its interest-rate increases, complained at length about Powell in the interview. He said the central bank’s policies are responsible for recent stock market declines and for GM’s announcement this week that it would close five factories in North America and lay off 14,000 workers next year, the Post reported.
“I’m doing deals and I’m not being accommodated by the Fed,” Trump told the Post. “They’re making a mistake because I have a gut and my gut tells me more sometimes than anybody else’s brain can ever tell me.”
The Fed held borrowing costs steady at its meeting earlier this month but investors expect it to raise rates in December, which would mark the fourth hike since Powell became chairman in February.
Trump has previously blamed the “loco” Fed for causing steep stock-market losses with its campaign of gradual rate increases and demurred on whether he’d fire Powell. The president’s criticism shattered a two-decade White House tradition of avoiding comment on monetary policy out of respect for the Fed independence.
U.S. central bankers are trying to keep the world’s largest economy on an even keel and inflation near their 2 percent target amid a strong labor market that has driven unemployment to the lowest level since 1969. They have penciled in another rate increase by year-end and three more in 2019, according to quarterly projections from September that will be updated next month.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.