“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.”
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

Recent related news from verified sources

President Trump, your Fed envy is showing

Criticizing the Federal Reserve's interest rate decisions undermines the important commodity known as Fed independence: Our view - Front PageAlso reported by •WorldNews

Asian Markets Tumble After Wall Street Sell-off

Asian stock markets are down with sharp losses on Thursday following the overnight sell on Wall Street amid worries about rising interest rates and reflecting...
RTTNews - MarketsAlso reported by •The AgeBangkok PostFrance 24

Fed is increasing rates too quickly, Trump says

President Donald Trump said the Federal Reserve is increasing interest rates too quickly, but he added that he had not spoken -More- 
SmartBrief - Business

Trump Says Fed 'Has Gone Crazy' Following Stock Market Selloff

President Donald Trump again criticized the Federal Reserve for raising interest rates following the worst market sell-off since February."
Newsmax - MoneyAlso reported by •The AgeWorldNewsRIA Nov.Wall Street Journal

You Might Like

Tweets about this

Other recent news in Business

US retailer SEARS FILES FOR BANKRUPTCYBREXIT talks hit 'real problem' over Northern Ireland border
Trump: CLIMATE CHANGE scientists have 'political agenda'Jamie Dimon: JP Morgan boss pulls out of SAUDI CONFERENCE

Recent related videos from verified sources

Asian Shares Keep Dropping [Video]Asian Shares Keep Dropping 00:41

TOKYO (Reuters) - Asian shares slipped on Monday as worries over Sino-U.S. trade disputes, a possible slowdown in the Chinese economy and higher U.S. borrowing costs tempered optimism despite a rebound..

Credit: Wochit Business - Published

Low Interest Rates Helped Save The Global Economy. Now, Politicians Are Fuming [Video]Low Interest Rates Helped Save The Global Economy. Now, Politicians Are Fuming 00:53

Central bankers worldwide are being pressured by governments to loosen their purse strings. This, as a decade of accelerating economic growth and booming markets fueled by cheap cash comes to an..

Credit: Wochit - Published

Dow Down Over 1,000 Points Over Two-Day Span [Video]Dow Down Over 1,000 Points Over Two-Day Span 02:24

Stocks continued their slide in volatile trading Thursday. Some tech stocks rebounded, albeit slightly, while President Trump continued his attacks on the Fed.

Credit: Cheddar Inc. - Published

Trump 'disappointed' with Fed Chairman [Video]Trump 'disappointed' with Fed Chairman 00:49

U.S. President Donald Trump says he's disappointed with, but won't 'fire', Federal Reserve Chairman Jerome Powell. Rough Cut (no reporter narration).

Credit: Reuters Studio - Published

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