Trump launches a new attack on the Federal Reserve and says they have blown the chance to get four or even five percent growth after defying it by not cutting interest rates
- Trump tweeted that the Fed & # 39; does not know what it is doing & # 39;
- He said the US was on its way to have one of the best Junes in history
- The Fed Board of Governors voted at the previous meeting not to adjust the main interest rate
- Only one director wanted to further lower the interest
- He compared the Fed with a & # 39; stubborn child & # 39;
- According to him, the Dow Jones average would be thousands of points higher
- The Dow could set a new record today
President Donald Trump again opened one of his attacks on the Federal Reserve, this time comparing the financial body with a & # 39; stubborn child & # 39 ;.
Trump wrote that the independent Fed blew up the & # 39; & # 39; by not lowering rates and taking other measures to & # 39; what other countries are doing to us & # 39; to counteract.
He made his remark when the Dow Jones Industrial Average was on the verge of a new record, and while traveling to Asia for talks with Chinese President Xi Jinping in the midst of an escalating trade war.
The president again criticized the Federal Reserve on Monday for failing to lower interest rates, relieving him of pressure on the central bank to change his policy.
President Donald Trump compared the independent Federal Reserve with a & # 39; spoiled child & # 39;
& # 39; Despite a Federal Reserve that does not know what it is doing – raised rates far too fast (very low inflation, slowing down, lowering & relaxing other parts of the world) & amp; has sharpened $ 50 billion a month, we are on our way to having one of the best months of June in American history, & he wrote on Twitter.
& # 39; Consider what it could be if the Fed had made it right. Thousands of points higher on the Dow, and GDP in the 4 & # 39; s or even 5 & # 39; s. Now they stick, like a stubborn child, when we need interest rate cuts & amp; to make up for what other countries are doing to us. Ruined it! & # 39;
Trump has attacked President Jerome Powell of the Federal Reserve Board for months
The US President has repeated the Federal Reserve under the leadership of President Jerome Powell, has accused the government of undermining efforts to stimulate economic growth and has repeatedly demanded that rates be lowered.
The US Federal Reserve last Wednesday signaled interest rate cuts that were already starting in July, and said it was ready to fight growing global and domestic economic risks when it took stock of rising trade tensions and growing concerns about weaknesses inflation.
Trump also went after Powell at NBC & # 39; s & # 39; Meet the Press & # 39 ;, where he did not submit reports that his administration was considering lowering the Fed seat.
Trump, who is counting on the economy being re-elected, said that Powell's interest rates & # 39; are way too fast & # 39; has increased.
& # 39; I never threatened to downgrade him, & # 39; Trump said before repeating the threat. & # 39; I could do that if I wanted to, but I didn't suggest that. Asked if that was a threat, Trump replied: & # 39; No, no, I have the right to do that. But I didn't say that. What he has done is $ 50 billion per month in quantitative tightening. That is ridiculous. What he has done is that he has raised interest rates too quickly. & # 39;
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