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Home / Business / Trump beats the Federal Reserve as the "most difficult problem" against the United States

Trump beats the Federal Reserve as the "most difficult problem" against the United States



President Trump Donald John TrumpTrump considers executive order of nationality issues for census US women's soccer stars Alex Morgan says the verdict on the Trump White House invitation will be a law decision China renews the requirement that the US lift all tariffs for the trade agreement MER [19659003] Took aim on the Federal Reserve on Saturday, labeled the "most difficult problem" the US faces and again criticizes the independent central bank for raising interest rates.

"Strong job report, low inflation and other countries around the world are doing everything possible to benefit from the United States, and know that our Federal Reserve has no clue!" Trump tweeted late Friday night. "They increased the rates too fast, too often and tightened, while others did the opposite.

"As well as we do from the day after the big election, when the market shot up, it could have been even better – massive extra wealth would have been created and used very well," he continued. "Our most difficult problem is not ours. competitors, that is the Federal Reserve! "

Trump's comments come one day after an "unexpectedly good" June job reported , who said the economy had added about 224,000 jobs a month.

Trump spotted the report on Friday, while also claiming that the economy would have exceeded previous heights if the Fed succumbed to its desire for lower prices. bu rd lower interest rates to stimulate the economy and help its trade while inflation remains low.

"If we had a Fed that would lower interest rates, we would be like a rocket ship, but we pay a lot of interest and that is unnecessary," he said Friday. "But we don't have a Fed that knows what they're doing, so it's one of the little things. But if we had a Fed that would lower prices, you would have a rocket ship."

Trump has repeatedly criticized Fed chairman Jerome Powell's independent central bank management, accusing his tenure of creating economic growth through interest rate increases. [19659004] The bank has increased interest rates nine times since 2015 – seven times since 2017 and four times during Powell, who took over as head of 2018 after Trump had nominated him for the job.

Last month, Trump said in an interview with The Hill that he has the power to burn Powell "if I wanted to, but I have no plans to do anything." But experts have been critical of this claim, referring to the Federal Reserve Act, which states that the president can only remove the Fed chair for the "Reason."

In October, Trump called the Fed its "biggest threat" and adds that it is "raising rates too fast."

The strength of the US economy is crucial to Trump's bid for another period in the office; Trump has spied on joblessness when he is close to record highs as he has hit his campaign for re-election.


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