Thursday 19 July 2018

Donald Trump says he is 'not thrilled' with Federal Reserve's rate hikes

Donald Trump

US President Donald Trump on Thursday told CNBC that he was unhappy about the Federal Reserve's decision to hike interest rates, saying he was concerned about their potential impact on the US economy and American competitiveness. "I'm not thrilled," he said in an interview on the television network. "Because we go up and every time you go up they want to raise rates again. I don't really - I am not happy about it. But at the same time I'm letting them do what they feel is best." "I don't like all of this work that we're putting into the economy and then I see rates going up," he said. Trump added that he was concerned that the Fed's rate hikes may put the United States at a "disadvantage" while the Bank of Japan and the European Central Bank keep their monetary policy loose. This was not the first time Trump departed from a long-standing practice of US presidents steering clear of commenting on Fed policy and the value of the dollar, a custom he dismissed on Thursday. "Now I'm just saying the same thing that I would have said as a private citizen," he said. "So somebody would say, 'Oh, maybe you shouldn't say that as president.' I couldn't care less what they say, because my views haven't changed."

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