'Not thrilled' with interest rate hikes

President TrumpDonald John TrumpNFL freezes policy barring players from protesting during anthem McConnell spokesman on Putin visit: "There is no invitation from Congress" Petition urges University of Virginia not to hire Marc Short MORE ramped up his criticism of the Federal Reserve on Friday, ripping the central bank for raising interest rates as financial tensions between the USA and key economic partners increase. "Because we go up and every time you go up they want to raise rates again".

"I'm not happy about it".

In a CNBC interview that aired earlier on Friday, Trump said he's "ready to go" with tariffs on $500 billion of Chinese goods, roughly the value of all USA imports from the Asian nation past year.

Trump told CNBC in an interview: "I don't like all of this work that we're putting into the economy and then I see rates going up". In particular, the Fed's most recent rate hikes could dilute some of the benefit of the tax cuts Trump signed into law previous year.

The Fed has been set on a slow and steady path of interest rate hikes over the past two years, leading economists to wonder if the central bank could tamp down some of Trump's promised economic growth.

The rare rebuke was likely to stir a backlash as it broke with the long-established practice of the executive branch not commenting on the Federal Reserve's decisions out of respect for its independence.

Powell addressed Congress this week and told lawmakers that "for now - the best way forward is to keep gradually raising the federal funds rate".

In February, Jerome Powell, Trump's hand-picked choice, became Fed chairman.

But Trump - in a tit-for-tat tariff war with the EU, China, Mexico and Canada - said he was anxious that the timing put the United States at a "disadvantage" while the European Central Bank and the Bank of Japan maintain loose monetary policy, the network reported.

Trump blames 'double negative' for furor over Putin meeting
Could be other people also. "I will say this, I don't see any reason why it would be", he said on Monday in Finland. The original statement made in Helsinki was 'I have president Putin, he just said it's not Russian Federation .

The commander-in-chief acknowledged that his criticism was unusual - but said he didn't care.

"Now I'm just saying the same thing that I would have said as a private citizen", Trump said. "So somebody would say, 'Oh, maybe you shouldn't say that as president".

Trump's remarks come as the US economy enjoys its second-longest economic expansion on record which has seen unemployment fall close to the lowest levels in 50 years.

Trump has previously described himself as a "low-interest-rate person", and so his comments are not new.

The White House later clarified Trump's statements.

"We have a long tradition here of conducting policy in a particular way, and that way is independent of all political concerns", he said in a radio interview last week with "Marketplace". But the past three administrations under Bill Clinton, George W. Bush and Barack Obama have refrained from publicly commenting on policy decisions. In emerging markets such as Turkey, the government of President Recep Tayyip Erdogan has felt no such restraint.

The last known example of USA presidential strong-arming came when George H.W. Bush was fighting for re-election.

Hoping to keep a lid on inflation as the world's largest economy gathers pace, the Fed has raised its benchmark lending rate seven times since 2015 and expects two more rate hikes this year.

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