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."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
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.
-
5 seriously spooky cartoons about HalloweenCartoons Artists take on the GOP boogeyman, a white sheet, and more
-
Political cartoons for October 25Cartoons Saturday’s political cartoons include hospital bill trauma, Independence Day, and more
-
Roasted squash and apple soup recipeThe Week Recommends Autumnal soup is full of warming and hearty flavours
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
