Trump offers unprecedented criticism of the Federal Reserve's interest rate hikes
![Donald Trump.](https://cdn.mos.cms.futurecdn.net/9BpRzV9bTGiSmr3Xfwi8sZ-415-80.jpg)
President Trump is "not happy" with rising interest rates from the Federal Reserve.
CNBC reported Thursday that Trump is frustrated with the central bank and concerned that interest rate hikes could disrupt the economic growth that he so often touts.
"I'm not thrilled," he told CNBC in an interview that the network will air on Friday. "Because we go up and every time you go up they want to raise rates again. I am not happy about it. But at the same time I'm letting them do what they feel is best." Trump claimed that the rate hikes were damaging his administration's efforts, saying he doesn't "like all of this work that we're putting into the economy and then I see rates going up."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
It's essentially unprecedented for a president to criticize the Fed this way, but Trump's comments are also unusual given his past views on interest rates. Previously, Trump said that low interest rates were creating a "false economy" under the Obama administration, but he also called the Fed's decisions part of a partisan plot to help Democrats look good.
Former Dallas Fed President Richard Fisher said that "no president should interfere with the workings of the Fed," citing the "hallmark" independence of the central bank. Trump acknowledged that most officials wouldn't publicly criticize the Fed, but shrugged off any negativity. "So somebody would say, 'Oh, maybe you shouldn't say that as president,'" he said. "I couldn't care less what they say," he continued, because "I'm just saying the same thing that I would have said as a private citizen." Read more at CNBC.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Summer Meza has worked at The Week since 2018, serving as a staff writer, a news writer and currently the deputy editor. As a proud news generalist, she edits everything from political punditry and science news to personal finance advice and film reviews. Summer has previously written for Newsweek and the Seattle Post-Intelligencer, covering national politics, transportation and the cannabis industry.
-
Why is China stockpiling resources?
The Explainer The superpower has been amassing huge reserves of commodities at great cost despite its economic downturn
By Richard Windsor, The Week UK Published
-
Paraguay's dangerous dalliance with cryptocurrency
Under The Radar Overheating Paraguayans are pushing back over power outages caused by illegal miners
By Chas Newkey-Burden, The Week UK Published
-
The Week contest: Tattoo prediction
Puzzles and Quizzes
By The Week US Published
-
Menendez convicted of bribery, fraud, and extortion
Speed Read The New Jersey Democratic Senator was found guilty in a federal corruption trial
By Rafi Schwartz, The Week US Published
-
Florida judge dismisses Trump documents case
Speed Read Judge Aileen Cannon ruled that special counsel Jack Smith was improperly appointed
By Rafi Schwartz, The Week US Published
-
How could J.D. Vance impact the special relationship?
Today's Big Question Trump's hawkish pick for VP said UK is the first 'truly Islamist country' with a nuclear weapon
By Harriet Marsden, The Week UK Published
-
Hamas says military chief survived Israeli strike
Speed Read An Israeli bombing failed to hit its intended target, military commander Mohammed Deif, but killed at least 90 Palestinians
By Peter Weber, The Week US Published
-
Biden, Trump urge calm after assassination attempt
Speed Reads A 20-year-old gunman grazed Trump's ear and fatally shot a rally attendee on Saturday
By Peter Weber, The Week US Published
-
First Israeli report on Oct. 7 finds 'severe mistakes and errors' in IDF response
Speed Reads Israeli military admits failures in response to deadly Hamas attack that triggered Gaza war
By Rafi Schwartz, The Week US Published
-
Biden saw neurologist during physicals
Speed Read Following his bad debate performance, many are asking questions about the president's brain
By Peter Weber, The Week US Published
-
Russia bombs Kyiv children's hospital
Speed Reads The daytime barrage interrupted heart surgeries and killed at least 40 people
By Peter Weber, The Week US Published