Donald Trump slams Fed rate hikes that could spoil winning economy: ‘Take the Victory!’
President Trump on Monday urged the Federal Reserve to hold off on another expected interest rate hike, calling it “incredible” that the central bank would hamstring growth amid worldwide economic instability.
“It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!” tweeted Mr. Trump.
The president has been a loud critic of the Fed and its chairman whom he appointed, Jerome Powell, for steadily increasing the benchmark borrowing rates after years of being at near-zero following the Great Recession.
But the rate hike expected this week is also anticipated to come with a signal that the Fed will pause in the tightening.
The U.S. stock markets, which have been volatile in recent weeks, were expected to open lower Monday on fears of a global economic slowdown.