Trump Blasts Powell’s Rate Hikes, Trespassing on Fed’s Independence

US Dollar Sinks as President Trump Hits Fed on Hikes

President Donald Trump said he is "not thrilled" about the Federal Reserve's interest rate hikes, breaking with the longstanding precedent of American presidents not commenting on central bank policy out of respect for its independence from political influence. "Because we go up and every time you go up they want to raise rates again".

He added, "No one in the administration has said anything to me that really gives me concern on this front".

Even though he's frustrated, Trump said he's "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.

"I don't like all of this work that we're putting into the economy and then I see rates going up", he said, according to CNBC. Federal Reserve Chairman Jerome Powell has raised rates twice this year, with two more increases projected to come, saying he believes the economy is strong enough for the Fed to continue on its recent path. In the interview, Trump called Powell a "very good man". "We do our work in a strictly nonpolitical way, based on detailed analysis, which we put on the record transparently".

Philippines orders Australian nun deported and blacklisted
Duterte has made no secret of his annoyance at Fox and has said he personally ordered an investigation into her activities. The bureau found Fox to be "in violation of the limitations and conditions of.(her) missionary visa and undesirable".

During the 2016 campaign, Trump was highly critical of the Fed and accused officials of keeping rates at ultra-low levels to favor Democrats.

Still, President Trump voiced concern that the higher rates and a stronger dollar may put the U.S. at a disadvantage while Fed counterparts in the Bank of Japan and the European Central Bank keep rates low, maintaining loose monetary policy.

Trump said he was unconcerned that his remarks might spark criticism as he was merely stating long-held personal views.

Presidents have historically avoided criticizing the Fed, which is created to be independent from political interference.

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