Trump says 'not thrilled' about interest rate hikes

Trump says 'not thrilled' about interest rate hikes

President Trump took a pot shot Thursday at the Federal Reserve for eyeing another interest rate hike that could slow America's strong economic growth.

"The Fed's independence from short-term political pressures is critical to enabling it to take the longer-run perspective that is essential for achieving its legislated dual mandate for jobs and price stability", said Donald Kohn, a former Fed vice chairman who is now a senior fellow at the Brookings Institution in Washington. So somebody would so 'oh, maybe you shouldn't say that as a president.' I couldn't care less what they say, because my views haven't changed.

Beijing can't tax as many USA goods - the United States exports far less to China than it imports - but it has other tools.

Trump defended his comments to CNBC by saying he is "just saying the same thing that I would have said as a private citizen".

Trump also turned to Twitter to predict that US soybean farmers will emerge victorious from the US-China trade dispute.

It will also make the American products China buys more expensive, reinforcing the effects of China's tariffs on US-made goods. The IMF projects the US trade deficit will widen as tax cuts and spending increases enacted this year stoke demand for imports. However, such a maneuver risks reigniting an outflow of capital that Beijing has spent months trying to halt.

The president's latest interest rate and dollar-focused comments came a day after he first criticized the Fed's series of rate increases.

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It seems Chelsea will not be backing down without a fight, as Liverpool close in on a deal to sign Alisson from AS Roma . Simon Mignolet , who started last season as number 1 at Anfield, is also expected to move on this summer.

With trade tensions rising, so is the pushback in the USA from private business that see potentially devastating ramifications, not only from China, but from Europe, Canada, and other countries in Asia.

Carlos Barria/REUTERS/NewscomPresident Donald Trump now says he's willing to slap tariffs on all imports from China.

Auto tariffs would escalate global trade tension dramatically: The U.S. last year imported $192 billion in vehicles and $143 billion in auto parts - figures that dwarf last year's $29 billion in steel and $23 billion in aluminum imports. The U.S. -China spat is the largest and broadest of several trade fights picked by Mr. Trump.

And on Friday morning, Trump tweeted his displeasure about recent decisions by the central bank to raise its benchmark interest rate target, bringing his public disagreements with Fed action into a second day. In Friday, however, Trump again attacked the Fed, which is led by Jerome Powell, Trump's hand-picked choice.

China has so far met USA tariffs with equal retaliatory tariffs, but with only $130 billion in US goods exported to China, it's not possible for President Xi Jinping it to match tariffs on a half-trillion dollars of products.

Feroli also noted that the easiest way for Trump to bend the Fed to his political will would be to fill the Federal Reserve Board of Governors with members that agreed with a low interest rate policy or were personally connected to the president.

The view that China and the euro area are manipulating their currencies contradicts the Treasury's own currency report, which found in April that no major US trade partner is gaming its exchange rate.

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