Trump calls Federal Reserve his 'biggest threat'
[WASHINGTON] US President Donald Trump reignited his controversial criticism of the central bank Tuesday, calling the Federal Reserve his "biggest threat."
Mr Trump followed up previous strong attacks on the Fed by complaining again that interest rates are rising too quickly.
"My biggest threat is the Fed, because the Fed is raising rates too fast," he told Fox Business television.
Mr Trump acknowledged that the central bank is independent, "so I don't speak to them," but then leveled direct criticism at Fed Chairman Jerome Powell, who he said should be slower on interest rate rises.
"It's going too fast, because you look at the last inflation numbers - they're very low," he said.
Mr Trump appointed Mr Powell but told Fox, "maybe it's right, maybe it's wrong."
"There are a lot of other people there I'm not so happy with," he said.
The Fed has raised interest rates three times this year as it seeks to prevent a vibrant economy from overheating.
US presidents usually remain silent on such issues in respect toward the Fed's independence. Mr Trump has previously called Fed policies "crazy."
AFP
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Ukraine eases some wartime capital controls for businesses
Labour mayor wins cap triumphant election run for Starmer
100 years on, SICCI to focus on internationalisation, digitalisation and sustainability
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers