Economics
Trump Blasts Powell’s Rate Hikes, Trespassing on Fed’s Independence
- President says he’s ‘not thrilled’ by higher borrowing costs
- Comments break with 20 years of avoiding public views on rates
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President Donald Trump criticized the Federal Reserve’s interest-rate increases, breaking with more than two decades of White House tradition of avoiding comments on monetary policy out of respect for the independence of the U.S. central bank.
“I’m not thrilled” the Fed is raising borrowing costs and potentially slowing the economy, he said in an interview with CNBC broadcast Thursday. “I don’t like all of this work that we’re putting into the economy and then I see rates going up."