Thursday, July 19, 2018

Trump Attacks Fed....



...but not because he wants the Fed to stop monetary and interest rate manipulation. He wants them to do more of it!

In a stinging and historically rare criticism, President Donald Trump expressed frustration with the Federal Reserve and said the central bank could disrupt the economic recovery, reports CNBC.

Trump, in an interview with CNBC, said he does not approve, even though he said he "put a very good man in" at the Fed in Powell.

“I’m not thrilled,” he told CNBC's Joe Kernen in an interview aired this morning. “Because we go up and every time you go up they want to raise rates again. I don't really — I am not happy about it. But at the same time I’m letting them do what they feel is best.”

“Now I’m just saying the same thing that I would have said as a private citizen,” he said. “So somebody would say, ‘Oh, maybe you shouldn’t say that as president. I couldn’t care less what they say, because my views haven’t changed.”

“I don’t like all of this work that we’re putting into the economy and then I see rates going up,” he said.

#TheFedFlunks

-RW