Economics
Trump Jawbones Fed Yet Again, May Be Grooming Powell Successor
- Says the Fed would cut rates if it ‘knew what it was doing’
- Has called central bank bigger problem than U.S. competitors
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President Donald Trump wrapped up the weekend as he started it, jawboning the Federal Reserve to lower interest rates at a time when he may be sizing up his two latest picks for Fed governor as successors to Chairman Jerome Powell.
If the Fed “knew what it was doing” it would cut rates, Trump told reporters before he boarded Air Force One in Morristown, New Jersey, to return to Washington after a weekend at his nearby golf club. Fed policy is putting the U.S. at a disadvantage versus Europe and suppressing gains in the stock market, Trump said.