Trump sees China's Xi as more of a friend than Fed's Powell

President Donald Trump sees Chinese President Xi Jinping as more of a friend than chairman of the Federal Reserve, Jerome Powell, CNBC's Jim Cramer said Monday.

Among Mexican President Andres Manuel Lopez Obrador, Powell and Xi, Cramer Trump said, in his words, that he believes "Powell is probably the worst for the country" and "Powell is not a friend."

On Monday, Trump on CNBC criticized the Fed for raising interest rates too fast and calling the four hikes last year "very, very disturbing."

"It's more than just Jay Powell. We've got people at the Fed who really weren't ̵[ads1]1; they're not my people. But they didn't quite hear me because you made a big mistake: they raised interest rates too fast," Trump CNKC's Joe Kern on "Squawk Box".

The president also blew up central banks for their balance runoff program, which allows bonds in the Fed's portfolio to mature without replacing them. The balance had swelled to over $ 4.5 trillion at the beginning of 2015 in the wake of several rounds of quantitative easing, or bond purchases, aimed at boosting the economy after the 2008 financial crisis.

Fed – Responding to CNBC's Cramer Response Request and the Trump comments – said it had no comment.

Trump has repeatedly and critically criticized Powell, even discussed discussed to shoot the Fed chairman, whom he actually nominated. Powell responded in January to the reports saying he would not quit if Trump were to ask.

On Monday, the president also told CNBC that Xi is "actually an incredible guy" and they have "a good relationship", despite the ongoing commercial war between Washington and Beijing.


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