So far during President Trump’s tenure, the Fed has hiked interest rates fives times versus just once during former president Barack Obama’s tenure. With major stock market indexes closing in on record highs, the prevailing sentiment is that two more interest rate hikes will occur prior to the end of 2018.
“He (Trump) was questioning why it was happening,” one person at the event said, according to a Dow Jones report. “He made a reference to things going so well, so why bother” raising rates.
In an interview with CNBC, U.S. President Donald Trump unsurprisingly made his discontent known publicly, 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
Related: Richmond Fed President Says Rates Must Keep Rising
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