Advertisement
Global  

“News neutrality by unbiased coverage”
One News Page
> >

Trump criticises Federal Reserve interest rate rises – dollar falls

City A.M. Friday, 20 July 2018
Trump criticises Federal Reserve interest rate rises – dollar fallsUS President Donald Trump said last night he was “not thrilled” about the idea of interest rate rises in the US, causing an immediate fall in the value of the dollar.

Speaking to CNBC Trump broke with the convention that presidents do not criticise the policy of the Federal Reserve or directly comment on the dollar.

“I’m not thrilled,” he said. “Because we go up and every time you go up they want to raise rates again ... I am not happy about it. But at the same time I’m letting them do what they feel is best.”

*Read more*: Donald Trump says he'll invite Vladimir Putin to Washington this year

“I don’t like all of this work that we’re putting into the economy and then I see rates going up,” he said.

Trump said he was concerned that the “Chinese currency was dropping like a rock” and the strong US dollar “puts us at a disadvantage.”

The dollar fell immediately after Trump’s comments but recovered most of its ground by the end of its session.

Kit Juckes, chief foreign exchange strategist at Societe Generale, said Trump: “Set more cats among even more pigeons with his comments about rates and the dollar yesterday, but apart from appalled gasps at the thought of interference with monetary policy, I’m not sure this intervention will have much lasting impact.”

Trump said he was not worried about breaking convention by expressing his views on monetary policy.

*Read more*: Pound falls to 10-month low as retail sales slump

“Now I’m just saying the same thing that I would have said as a private citizen,” Trump said. “So somebody would say, ‘Oh, maybe you shouldn’t say that as president.’ I couldn’t care less what they say because my views haven’t changed.”

China’s currency the yuan fell to a one-year low against the dollar today, igniting worries it could be a new weapon in the trade conflict with the US.

Juckes said: “Whether or not China is wittingly undertaking a depreciation policy, the question will increasingly be on investors' minds as the slide deepens.”
0
shares
ShareTweetSavePostSend
 
Credit: euronews (in English) - Published < > Embed
News video: Trump accuses China and EU of currency manipulation

▶ Trump accuses China and EU of currency manipulation 00:40

The comments, plus Trump's criticism of Federal Reserve interest rate hikes, sent the dollar tumbling

You Might Like


Recent related videos from verified sources

Preparing For a Harder Economy? Here's How to Invest For 2019 [Video]Preparing For a Harder Economy? Here's How to Invest For 2019 06:20

Goldman Sachs published a note Monday saying the U.S. economy is likely to slow down considerably in 2019. U.S. stocks have gotten hammered in November. We've already had the longest bull run in..

Credit: The Street - Published

Stocks Start Week Strong [Video]Stocks Start Week Strong 00:37

SYDNEY (Reuters) - Share markets turned mixed in Asia on Monday amid conflicting signals on the prospects for a truce in the Sino-U.S. trade dispute, while the Federal Reserve’s newly-found concerns..

Credit: Wochit Business - Published

The Fed Needs to Watch Oil, Housing, Bond Market More Closely [Video]The Fed Needs to Watch Oil, Housing, Bond Market More Closely 06:10

Federal Reserve Chairman Jerome Powell may have been slightly less hawkish in his comments Wednesday night, but there still may more warning signs he should consider. Oil prices are dropping. House..

Credit: The Street - Published

Asian Shares Falter, Dollar At 16-month Peak [Video]Asian Shares Falter, Dollar At 16-month Peak 00:33

SYDNEY (Reuters) - Asian shares stumbled on Tuesday after a rout in tech stocks inflicted a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe haven bets amid political risks..

Credit: Wochit News - Published

Stocks Dip As Fed Keeps Interest Rate Steady [Video]Stocks Dip As Fed Keeps Interest Rate Steady 00:36

Stocks fell lower Thursday, as the Federal Reserve left its benchmark interest rate unchanged. The Dow Jones Industrial Average was mostly flat, and the S&P 500 was down 0.25%. According to Business..

Credit: Wochit - Published

Fed Leaves Interest Rates Alone After Q3 [Video]Fed Leaves Interest Rates Alone After Q3 00:37

According to Reuters, the Federal Reserve will hold off on increasing interests rates. After the latest Federal Open Market Committee meeting, the Fed issued a statement indicating the federal funds..

Credit: Wochit - Published

Federal Reserve Keeps Interest Rate Steady [Video]Federal Reserve Keeps Interest Rate Steady 00:43

According to Reuters, the Federal Reserve will hold interest rates steady after their latest meeting on monetary policy. At the end of the Federal Open Market Committee meeting, policymakers at the Fed..

Credit: Wochit News - Published

Political Landscape Won't Shape Fed's Monetary Policy [Video]Political Landscape Won't Shape Fed's Monetary Policy 00:33

According to Reuters, the Federal Reserve is likely to maintain a steady course with monetary policy despite the current political landscape. The Fed's Federal Open Market Committee is meeting to..

Credit: Wochit News - Published


Recent related news from verified sources

Dollar hits 16-month high as Brexit fears hit sterling

The dollar rallied to a 16-month high today as investors positioned for a Federal Reserve interest rate rise next month and concern about political risks in...
RTE.ie - Entertainment

Federal Reserve policymakers see rate hikes ahead, note worries

Federal Reserve policymakers on Friday signalled further interest rate increases ahead, but raised relatively muted concerns over a potential global slowdown...
Reuters India - Business

Stocks turn mixed, dollar faces rate hike uncertainty

Share markets turned mixed in Asia on Monday amid conflicting signals on the prospects for a truce in the Sino-U.S. trade dispute, while the Federal Reserve's...
Reuters - BusinessAlso reported by •Reuters IndiaSmartBrief

Powell sees potential threats from global slowdown

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the U.S. economy is performing well but he's eyeing potential risks ahead. Those include a...
SeattlePI.com - Business


Tweets about this


Other recent news in Business

Facebook's ad platform has crashed — causing chaos just days before BLACK FRIDAY (FB)US ADVISER HINTS AT EVICTING CHINA FROM WTO
THANKSGIVING air-travel rush gets off to a good startAmericans, Canadians are warned not to eat ROMAINE LETTUCE
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2018 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest