Trump again criticizes Fed chairman for increased interest

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US President Donald Trump has again criticized the Fed's monetary policy and its incumbent Jerome Powell, who accuses him of "cheering on rising interest rates" on Tuesday, . "Every time we do something great, it raises interest rates," Trump lamented in an interview with the Wall Street Journal, in direct reference to Powell, whom the president himself nominated for the Fed. "It's almost as if I'm happy to raise interest rates, "Trump said, recalling that his predecessor, Barack Obama," had zero rates. " Since the end of 2015 and after nearly ten years of virtually zero rates to sustain growth that did not take off, the Fed has been steadily increasing interest rates, now ranging from 2% to 2.25%.
To avoid rising inflation and overheating an economy strongly stimulated by the tax cuts adopted by Trump, the Fed Monetary Committee forecasts a new interest rate increase of 0.25% this year and certainly another three in 2019. But Trump, which is proud of its "booming economy," sees monetary policy as "the biggest risk" in the face of a "Fed rate increase too fast." The US economy grew 4.2 percent year-on-year in the second quarter, the highest level in four years.
Next Friday, the government will publish the first estimate of the expansion for the third quarter, which is expected to be around 3%, according to analysts. About lamenting having named Powell to succeed Janet Yellen at the Fed, Trump replied: "It's still early to say, maybe yes." "I can only say that I'm not happy with the Fed because Obama had zero rates."

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