Trump calls Federal Reserve his 'biggest threat' (must look into Obama/Rahm era activities)

AFP ^ | October 16, 2018 | staff

[Liz]

Washington (AFP) - President Trump reignited his controversial criticism of the central bank Tuesday, calling the Federal Reserve his "biggest threat." Trump followed up previous strong attacks on the Fed by complaining 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. Trump acknowledged that the central bank is independent, "so I don't speak to them." He 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.

Trump appointed Powell but told Fox, "maybe it's right, maybe it's wrong." 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. Trump has previously called Fed policies "crazy."

[Moonman62]

Paul Volcker should get credit for the nasty recession we had in the early 80’s. Reagan should get credit for the lower inflation due to his pro economic growth policies.