Trump fired a new warning shot at the Fed over rising interest rates

President
Donald Trump and Federal Reserve Chair Jerome
Powell
Drew Angerer/Getty
Images

• President Donald Trump accused Federal Reserve Chairman
  Jerome Powell of getting joy out of raising interest rates in an
  interview with The Wall Street Journal published on Tuesday.
• Trump has made clear he sees rising interest rates as a
  threat to the broader US economy.
• When asked whether he regrets nominating Powell to chair the
  Federal Reserve, Trump said it’s “too early to say, but maybe.”
• Historically, presidents are expected to avoid publicly
  criticizing the Fed to avoid the appearance of inappropriately
  influencing monetary policy.

President Donald Trump on Tuesday accused Federal Reserve
Chairman Jerome Powell of getting joy out of raising interest
rates
in an interview with The Wall Street Journal published on
Tuesday.

“Every time we do something great, he raises the interest rates,”
Trump said, adding that Powell, “almost looks like he’s happy
raising interest rates.”

Historically, presidents are expected to avoid publicly
criticizing the Fed to avoid the appearance of inappropriately
influencing montary policy.

Trump has made clear he sees rising interest rates as a threat to
the broader US economy. He has broken with longstanding
traditions in presidential politics by openly criticizing the
Fed.

When asked whether he regrets nominating Powell to chair the
Federal Reserve, Trump said it’s “too early to say, but maybe.”

Trump’s comments on Tuesday come a week after he described the
Fed as his “biggest threat,” the Associated
Press reported. The president also had words for Powell in
the AP report, and grumbled at the Fed’s plan to keep raising
interest rates into 2019.

“I’m not happy with what he’s doing because it’s going too fast,”
Trump said.