Trump says he 'maybe' regrets making Powell Fed chairman

Donald Trump.
(Image credit: Brendan Smialowski/AFP/Getty Images)

During an interview Tuesday with The Wall Street Journal, President Trump said that while the Federal Reserve has its independence when it comes to setting economic policy, he would like Chairman Jerome Powell to know that he wants interest rates lowered.

"Every time we do something great, he raises the interest rates," Trump said. Powell, he added, "almost looks like he's happy raising interest rates." Powell's four-year term started in February, and when asked if he regrets nominating Powell to the post, Trump responded, "too early to say, but maybe." He also said he believes the Fed is "the biggest risk" to the economy, because "I think interest rates are being raised too quickly." The Fed has been slowly raising rates this year to protect against higher inflation or financial bubbles.

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Catherine Garcia, The Week US

Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.