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Thread: Trump lays into the Federal Reserve, says 'not thrilled' about interest rate hike

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    Default Trump lays into the Federal Reserve, says 'not thrilled' about interest rate hike

    In a stinging and historically rare criticism, President Donald Trump expressed frustration with the Federal Reserve and said the central bank could disrupt the economic recovery.

    Presidents rarely intercede when it comes to the Fed, which sets the benchmark interest rate that flows through to many types of consumer debt.

    Fed officials, including Chairman Jerome Powell, have raised interest rates twice this year and have pointed to two more before the end of 2018.

    Trump, in an interview with CNBC, said he does not approve, even though he said he "put a very good man in" at the Fed in Powell.

    “I’m not thrilled,” he told CNBC's Joe Kernen in an interview to air in full Friday at 6 a.m. ET on "Squawk Box." “Because we go up and every time you go up they want to raise rates again. I don't really — I am not happy about it. But at the same time I’m letting them do what they feel is best.”

    “But I don’t like all of this work that goes into doing what we’re doing.”

    Markets reacted to Trump's comments, with stocks, the dollar and Treasury yields all falling.

    Fed officials did not comment on the president's remarks. The White House, in a statement after the interview excerpt aired on CNBC, emphasized that Trump did not mean to influence the Fed's decision-making process.

    "Of course the President respects the independence of the Fed. As he said he considers the Federal Reserve Board Chair Jerome Powell a very good man and that he is not interfering with Fed policy decisions " the statement said. “The President’s views on interest rates are well known and his comments today are a reiteration of those long held positions, and public comments."
    https://www.cnbc.com/2018/07/19/trum...est-rate-.html

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    “I’m not thrilled,” he told CNBC's Joe Kernen in an interview to air in full Friday at 6 a.m. ET on "Squawk Box." “Because we go up and every time you go up they want to raise rates again. I don't really — I am not happy about it. But at the same time I’m letting them do what they feel is best.”
    Trump is correct..weve already had 2 rate hikes this year. Powell wants 2 more! -
    i think that is more then the entire Obama adm?

    Powell want's more? that's a bad idea and will kill growth

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    Oh, Don said something again?

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    Quote Originally Posted by Fentoine Lum View Post
    Oh, Don said something again?
    4 rate hikes for an economy just getting off the ground with GDP growth is counter-productive.

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    Quote Originally Posted by anatta View Post
    4 rate hikes for an economy just getting off the ground with GDP growth is counter-productive.
    Who appointed the Fed Chair? Obama?

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    Quote Originally Posted by rhym3pays View Post
    Who appointed the Fed Chair? Obama?
    what a stupid remark.
    It's akin to saying Comey is a Republican when he just tweeted that everyone should vote Dem.

    The FED is moving too fast - this isn't about partisanship

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    Quote Originally Posted by anatta View Post
    4 rate hikes for an economy just getting off the ground with GDP growth is counter-productive.
    Oh our economic system works exactly as it is designed to and for who it is designed to work for.

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    Quote Originally Posted by Fentoine Lum View Post
    Oh our economic system works exactly as it is designed to and for who it is designed to work for.
    be that as it may or not..interest rates need to come up,but NOT 4 hikes in one year!

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    Quote Originally Posted by anatta View Post
    what a stupid remark.
    It's akin to saying Comey is a Republican when he just tweeted that everyone should vote Dem.

    The FED is moving too fast - this isn't about partisanship
    its definitely about partisanship if you are claiming that the economy is just now getting off the ground when the economy has been strong since before Trump even got elected -- so when the economy booms, interest rates tend to go up.

    I remember when future Trump supporters use to bitch and complain about how the FED didn't raise rates under Obama....2015 Trump also complained about interest rates being low -- funny how he changed his mind

    https://www.bloomberg.com/news/artic...came-president

    Don't you folks get tired of being exposed as hypocrites over and over again?

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    Quote Originally Posted by anatta View Post
    be that as it may or not..interest rates need to come up,but NOT 4 hikes in one year!
    "be that as it may or not"

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    Quote Originally Posted by rhym3pays View Post
    its definitely about partisanship if you are claiming that the economy is just now getting off the ground when the economy has been strong since before Trump even got elected -- so when the economy booms, interest rates tend to go up.

    I remember when future Trump supporters use to bitch and complain about how the FED didn't raise rates under Obama....2015 Trump also complained about interest rates being low -- funny how he changed his mind

    https://www.bloomberg.com/news/artic...came-president

    Don't you folks get tired of being exposed as hypocrites over and over again?
    FFSake.
    Obama had good JOB growth but ANEMIC GDP.. surely you get the differences?

    It was understandable the Feds didn't want to raise rates at all -coming off the great recession under Obama.

    But we are just starting to see signs of a good GDP growth this quarter, and raising the rates 2 more times in 6 months is a real danger it strangles expansion. The FED seems oblivious on this.

    See if you can discuss the merits of rate hikes (or not) with out injecting partisanship into it.

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    Trump is a dumb ass, the most dim-witted president this great nation has ever had, and he does not know jack about economic policy.

    Who cares what he says? He thought a 400 pound fat guy was hacking the DNC.

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    Quote Originally Posted by Cypress View Post
    Trump is a dumb ass, the most dim-witted president this great nation has ever had, and he does not know jack about economic policy.

    Who cares what he says? He thought a 400 pound fat guy was hacking the DNC.
    thanks for your well thought contribution to the discussion.

    The question stands ( as everyone wants to duck it) -are 2 more rate hikes ( we already had 2)
    too fast that it retards growth?

    Maybe cawacko can give a sane answer.

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    Quote Originally Posted by rhym3pays View Post
    its definitely about partisanship if you are claiming that the economy is just now getting off the ground when the economy has been strong since before Trump even got elected -- so when the economy booms, interest rates tend to go up.

    I remember when future Trump supporters use to bitch and complain about how the FED didn't raise rates under Obama....2015 Trump also complained about interest rates being low -- funny how he changed his mind

    https://www.bloomberg.com/news/artic...came-president

    Don't you folks get tired of being exposed as hypocrites over and over again?
    Yep...Dogshit was here last week trying to brag that trump raised rates more than Obama did.
    Once in a while you get shown the light, in the strangest of places if you look at it right.

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    Quote Originally Posted by Cypress View Post
    Trump is a dumb ass, the most dim-witted president this great nation has ever had, and he does not know jack about economic policy.

    Who cares what he says? He thought a 400 pound fat guy was hacking the DNC.
    And that was after the intelligence community told him who was doing the hacking.

    Trump is an abomination.

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