Trump Goes After Fed but Proclaims "I Don't Want to Meddle": Trump Translated

Citing a lack of inflation, Trump thinks the Fed is hiking interest rates too fast.

President Trump, who blasted the Fed several times for keeping interest rates too low to help Hillary, now claims the Fed is hiking too fast.

Says He hasn’t spoken to Fed Chair Powell but Trump Criticizes Fed Rate Increases Again.

President Trump repeated his displeasure with higher short-term interest rates set by the Federal Reserve, but said he hadn’t spoken with Fed Chairman Jerome Powell about his frustration because he didn’t want to meddle with monetary policy.

Speaking to reporters outside the White House on Tuesday, Mr. Trump said he believed the Fed was increasing its benchmark rate too fast given the apparent lack of inflationary pressures in the economy.

“The Fed is doing what they think is necessary but I don’t like what they are doing because we have inflation really in check,” Mr. Trump said. The president said he was concerned higher rates would slow down economic growth.

“You don’t see that inflation coming back,” Mr. Trump said. “Now, at some point it will…. I just don’t think it’s necessary to go as fast” on rates.

Mr. Trump hadn’t spoken with Mr. Powell about his concerns because, he said, “I like to stay uninvolved with that.”

Three-Point Translation

  1. I said I don't want to meddle, but I really do.
  2. I am worried about the stock market.
  3. Please don't sink the stock market before the midterm elections or I may get really nasty.

Mike "Mish" Shedlock

Comments
No. 1-10
Sechel
Sechel

i don't want to meddle sounds like i don't want to obstruct

stillCJ
stillCJ

Editor

11:35 am EST: Mr. Market says he agrees with Trump, interest rates are being raised too fast. Thank you Fed for another cluster-xxxx.

Envir
Envir

"At the same time as illegal immigrants are raping and killing Americans on a massive scale and ... This statement is about as far removed from reality as possible.

Sechel
Sechel

Trump wants what's good for him not the country and he's thinking short term. Trump clearly has no idea where interest rates should be or what the proper m-2 figure should be. The sad thing is there are some people out there listening who will pay attention to what he says and believe it

truthseeker
truthseeker

Mish it just came to my mind that’s it’s probably going to b a lot harder to continue to sell this debt at favorable interest rates with this trade war we’ve started with China, since they have been selling some treasury securities recently.

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