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.
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.”
- I said I don't want to meddle, but I really do.
- I am worried about the stock market.
- Please don't sink the stock market before the midterm elections or I may get really nasty.
Mike "Mish" Shedlock