Trump doubles down on Fed attacks, saying it's 'going loco' [View all]
U.S. President Donald Trump continued his tirade against the Federal Reserve in a late Wednesday television appearance, laying into the central bank’s policy decisions and suggesting it is to blame for Wednesday’s sharp market decline.
Saying he’s “not happy” with the Fed, Trump told Fox News he could’t understand why it was continuing to tighten U.S. monetary policy. The president has previously expressed displeasure with the central bank, and that’s led some to fear the institution’s independence is at risk.
“The problem I have is with the Fed. The Fed is going wild. I mean, I don’t know what their problem is that they are raising interest rates and it’s ridiculous,” Trump said during a telephone interview with Fox host Shannon Bream. “The problem [causing the market drop] in my opinion is Treasury and the Fed. The Fed is going loco and there’s no reason for them to do it. I’m not happy about it.”
In recent months, U.S. officials have sought to emphasize that Trump would honor the Fed’s historic ability to make decisions independent of political interference. “We as an administration absolutely support the independence of the Fed,” Treasury Secretary Steven Mnuchin reportedly said in July.
https://www.msn.com/en-us/money/markets/trump-doubles-down-on-fed-attacks-saying-its-going-loco/ar-BBOdzsf?li=BBnb7Kz
Nixon tried to fuck with the Fed. The result was double digit inflation.
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