Trump's criticism broke the White House's tradition
Nov 21, 2018| US President Donald Trump once again criticized the Fed on Tuesday, calling the US central bank a "problem" and calling for lower interest rates.
Trump's latest attack on the currency regulator coincides with a lower stock market, and concerns about global economic slowdowns and increased trade conflicts are dragging down the stock market. A survey of residential builders this week showed that the housing market is slowing further as mortgage rates are at an eight-year high, which could be a warning sign for the overall economy.
"I hope the Fed will lower interest rates," Trump told reporters in Washington. “Compared to other people, the Fed is a problem for us.”
The Fed kept borrowing costs unchanged at its meeting earlier this month, but investors expect it to raise interest rates in December, which will be the fourth since Trump appointed Jerome Powell as chairman of the Fed in February. The second rate hike.
Trump had previously blamed the sharp fall in the stock market on the “frenzy” Fed's gradual rate hike and expressed dissent if he would dismiss Powell. Trump's criticism broke the White House's tradition of respecting the Fed's independence for 20 years and avoiding commenting on monetary policy.