Since taking office, President Trump has been flicking jabs at Fed Chair Jerome Powell for raising interest rates–the same man he nominated for the position. Since January 2017 when President Trump took office, the Federal Reserve has now hiked interest rates seven times versus just once during former president Barack Obama’s tenure.
Following the hike announcement in September, Trump took the opportunity at a New York press conference to express his discontent.
“Unfortunately, they just raised interest rates,” said Trump. “I am not happy about that.”
The president did, however, say the Fed’s move was justified as a result of the strength seen in the economy, but also said, “but basically I am a low-interest-rate person.”
In an interview with CNBC earlier this year, Trump already took a shot at the Fed, saying he’s “not happy” about the Federal Reserve’s latest monetary policy moves to raise interest rates. In typical Trump fashion, the president took to social media to say that the U.S. “should not be penalized because we are doing so well.”
….The United States should not be penalized because we are doing so well. Tightening now hurts all that we have done. The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals. Debt coming due & we are raising rates – Really?
— Donald J. Trump (@realDonaldTrump) July 20, 2018
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