Trump says 'not even a little bit happy' with Fed's Powell: report

WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday kept up his criticism of Federal Reserve Chairman Jerome Powell, saying rising interest rates and other Fed policies were damaging the U.S. economy, the Washington Post said

Reuters November 28, 2018 05:05:32 IST
Trump says 'not even a little bit happy' with Fed's Powell: report

Trump says not even a little bit happy with Feds Powell report

WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday kept up his criticism of Federal Reserve Chairman Jerome Powell, saying rising interest rates and other Fed policies were damaging the U.S. economy, the Washington Post said.

"So far, I’m not even a little bit happy with my selection of Jay," the Post quoted Trump as saying in an interview, referring to the man he picked last year to lead the Fed.

"Not even a little bit. And I’m not blaming anybody, but I’m just telling you I think that the Fed is way off-base with what they’re doing."

In recent months, the Republican president has repeatedly criticized Powell and the Fed's interest rate increases that he said was making it more expensive for his administration to finance its escalating deficits. Trump has called the Fed "crazy" and "ridiculous."

"I’m doing deals, and I’m not being accommodated by the Fed," Trump told the Post on Tuesday. "They’re making a mistake because I have a gut, and my gut tells me more sometimes than anybody else’s brain can ever tell me."

(Reporting by Eric Beech; Writing by Mohammad Zargham; Editing by Tom Brown and Bill Berkrot)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply

also read

Shares rise as cyclical stocks provide support; yields climb
Business

Shares rise as cyclical stocks provide support; yields climb

By Saqib Iqbal Ahmed NEW YORK (Reuters) - A gauge of global equity markets snapped a three-day losing streak to inch higher on Friday as investors sold technology shares and rotated into economically sensitive cyclical stocks in anticipation the U.S.

IKEA's malls arm plans first India site on outskirts of Delhi
Business

IKEA's malls arm plans first India site on outskirts of Delhi

STOCKHOLM (Reuters) - IKEA plans to open its first shopping centre in India after the furniture giant's shopping centres business - one of the world's largest - said it had bought a 48,000-square-metre plot in the city of Noida on the outskirts of Delhi. IKEA, which opened its first store in India in 2018 in Hyderabad followed by one in Mumbai in 2020, said it would develop the new site into a mall anchored by an IKEA store

Oil extends losses as Texas prepares to ramp up output after freeze
Business

Oil extends losses as Texas prepares to ramp up output after freeze

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices fell for a second day on Friday, retreating further from recent highs as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather and power outages. Brent crude futures were down 92 cents, or 1.4%, at $63.01 a barrel by 1:44 p.m.