Economics
Trump Scolds the Fed Over “Mistakenly Raised Interest Rates”
- White House’s Kudlow Urges Half-Point Fed Cut, Echoing Moore
- Fed has already pivoted to policy pause amid risks to outlook
President Donald Trump
Photographer: Al Drago/BloombergThis article is for subscribers only.
President Donald Trump ratcheted up his pressure on the Federal Reserve, saying that if the central bank had “not mistakenly raised interest rates,” the U.S. gross domestic product would be higher and markets “would be in a better place.”
The president’s comment, in a Twitter post on Friday afternoon, was yet another shot across the bow of Fed Chairman Jerome Powell, who Trump has repeatedly rebuked since the Fed raised borrowing costs four times last year. Trump even discussed firing Powell, Bloomberg News reported on Dec. 21.