US Pres. Trump worries that higher rates would 'nullify' work his administration has done - CNBC
In an interview with CNBC's Joe Kernen, US President Donald Trump argued that the Federal Reserve's monetary policy could disrupt the economic recovery that his administration fueled.
“Because we go up and every time you go up they want to raise rates again. I don't really — I am not happy about it. But at the same time I’m letting them do what they feel is best. “But I don’t like all of this work that goes into doing what we’re doing,” Trump said.
Trump also acknowledged that his comments on the Fed were unorthodox but stated that he would think the same thing as a private citizen and that he didn't care if people criticized him for that.
In an article summarizing the interview, CNBC included quotes from the former Dallas Fed President Richard Fisher:
"One of the hallmarks of our great American economy is preserving the independence of the Federal Reserve. No president should interfere with the workings of the Fed. Were I Chairman Powell, I would ignore the President and do my job and I am confident he will do just that."
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
