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Home / Business / 'We don't have a tariff problem!' Trump defends trade war and accuses Fed of bad economic news piling up – Raw Story

'We don't have a tariff problem!' Trump defends trade war and accuses Fed of bad economic news piling up – Raw Story



On Friday, President Donald Trump sent another panicked tweet about the state of the economy, even as many economists say the president's trade war has been responsible for the recent slowdown in growth.

"We do not have a tariff problem (we rule in bad and / or unfair players), we have a Fed problem," the president wrote. "They have no clue!"

The President also complained that the Federal Reserve has not done enough to weaken the dollar against other foreign currencies.

"The Euro is falling against the dollar" like crazy, "giving them a huge export and production advantage … and the Fed is doing nothing!" The president complained.

The president has expressed significant concern about the state of the economy thanks to the reverse yield curve, which means that short-term US government bonds yield higher returns than long-term bonds. While a reverse yield curve does not guarantee a recession, it has preceded each of the last seven recessions.

Instead of working to ease its trade war with China, however, the president has instead taken the blame of the Federal Reserve for doing nothing more to pump money directly into the economy by aggressively cutting interest rates.

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