President Trump told Reuters on Monday he's "not thrilled" with Federal Reserve Chairman Jerome Powell raising interest rates.
Trump nominated Powell last year to replace former Fed Chair Janet Yellen. "Am I happy with my choice?" he said. "I'll let you know in seven years." It's rare for presidents to criticize the Fed, as its independence is crucial for economic stability, and when asked by Reuters if he believes in its independence, Trump replied, "I believe in the Fed doing what's good for the country."
The Fed raised rates twice this year, and is expected to do so again in September. "We're negotiating very powerfully and strongly with other nations," Trump said. "We're going to win. But during this period of time I should be given some help by the Fed. The other countries are accommodated." Catherine Garcia