President Donald Trump continued his assault on the Federal Reserve in an interview with Fox Business on Tuesday, calling the central bank the “biggest threat” to his presidency.
“My biggest threat is the Fed,” Trump said during an interview with Fox Business’ Trish Regan. “Because the Fed is raising rates too fast.”
Noting the central bank’s independence, Trump said he has not spoken to Fed Chairman Jerome Powell but added, “I’m not happy with what he’s doing.”
The comments from Trump come as the Fed has raised interest rates three times this year and forecast another rate hike before the end of the year.
Trump reiterated his claim that the Fed is raising rates too aggressively considering recent “very low” inflation numbers.
Past presidents largely refrained from publicly commenting on the Fed’s monetary policy, but Trump has repeatedly criticized the central bank.
Last week, Trump blamed the central bank for the recent sell-off on Wall Street, accusing the Fed of “going wild.”
“The problem that I have is with the Fed. The Fed is going wild,” Trump said in an interview with Fox News last Wednesday. “I mean, I don’t know what their problem is but they are raising interest rates and it’s ridiculous.”
“The problem in my opinion is Treasuries and the Fed,” he added. “The Fed is going loco and there is no reason for them to do it and I’m not happy about it.”
Arguing that inflation has been held in check, Trump said he does not want to see Fed policy lead to a slowdown in recent economic growth.
Trump’s latest comments came ahead of the release of the minutes of the Fed’s latest monetary policy meeting, which may shed additional light on the outlook for interest rates.
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