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Trump Lines Up Fed Chairman as Fall Guy If Tax, Trade Moves Sour

  • President again criticizes Fed for raising interest rates
  • Treasury secretary says Trump ‘fully supports’ independent Fed
Jerome Powell
Jerome PowellPhotographer: Andrew Harrer/Bloomberg
Updated on

President Donald Trump looks to be lining up Federal Reserve Chairman Jerome Powell to be the fall guy if the president’s trade and tax policies don’t succeed.

In a series of comments over the past two days that shook financial markets, Trump attacked the Fed for raising interest rates and for undercutting his efforts to slash the U.S. trade deficit.