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Trump rips the Fed for "erroneously" raising interest rates



President Trump Donald John TrumpChinese, US dealers fine-tune trade agreement details: report Iran wants America out of Iraq; will it succeed? Florida bar reverses the non-hatred policy after objections from MAGA hat wearer Mer hammered the Federal Reserve on Friday for "erroneously" raising interest rates, claiming that domestic and international markets would be stronger if it had not.

"Had the Fed erroneously raised interest rates, especially since there was very little inflation, and had they not made the ridiculous quantitative measure, 3.0% GDP would, and the stock market would both have been much higher and the world market would be in a better position place! "Trump tweeted.

Tweeten represented Trump's latest salvo against the Fed, with t he president repeatedly hammering the central bank for hiking rates, as it did four times in 2018.

"No, I think the Fed is making a mistake. They are so tight , "Trump said in October over a number of planned interest rates. "I think the Fed has gone mad. So you can say that, well, well, there's a lot of security indeed. And there's a lot of security and it gives you a lot of margin. But I think the Fed has gone crazy "If we had no one to raise interest rates and make quantitative tightening, we would have been over 4 [percent] instead of 3.1 [percent]" in terms of economic growth, told Trump Fox Business in an interview which was sent last week. "The world is slowing down, but we're not slowing down."

In a sign administration, officials feel pressure from the Oval Office to respect Trump's claims. The White House financial adviser Larry Kudlow urged the Fed to "immediately" cut interest rates by 50 basis points.

"I'm echoing the president's view – he hasn't been bashful about that notion – he also wants the Fed to stop shrinking the balance. And I agree with that view," Kudlow told CNBC on Friday.

"Looking at some of the indicators, I think the economy looks fundamentally fresh, we just don't want that threat," he added. "There is no inflation out there, so I think the Fed's actions were probably exaggerated."

Federal Reserve Mayor Jerome Powell said last week that the bank will not raise interest rates for the second month ahead and lowered its interest rate hike to zero for the year, referring to Fed's "positive" US economic outlook.

The Fed's interest rates are currently at 2.25 percent to 2.5 percent. A 50-point cut can push prices below 2 percent.


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