Trump vows to ramp up pressure in trade wars

I don’t necessarily agree with it because he’s raising interest rates, I’m not saying I agree with it, and I don’t necessarily agree with it, I must tell you I don’t.

President Donald Trump said on Thursday that he’s “not thrilled” with the Federal Reserve for raising interest rates.

The Fed has raised interest rates seven times since December 2015 and has penciled in two more rate hikes for this year. Its rate hikes are meant to prevent the economy from overheating and igniting high inflation. The Chinese government could also make it harder for United States companies to operate in China.

Trump’s comments come amid a multitude of trade threats between major economies around the globe and after his initial tariffs on Chinese goods sparked a major conflict.

“So by making the Fed’s independence his primary goal, well, the Fed did what it did and it made Bill Clinton look better”, he added. That policy drew rebukes from many Republican lawmakers. In Friday, however, Trump again attacked the Fed, which is led by Jerome Powell, Trump’s hand-picked choice.

While Trump had indicated his desire to pull the U.S. out of the WTO during his election campaign, the official said the USA had no intention of quitting the trade body.

The reaction to Trump’s remarks in the financial markets was muted.

From being up slightly earlier in the day, European indexes were trading lower.

Trump denounced the rate hikes in an interview with CNBC, just the latest time he has strayed from the traditions normally observed by the president.

Economists say the biggest risk to America’s economic growth are Trump’s own policies, especially his imposition of import tariffs on China and Europe as well as allies like Mexico and Canada.

Trump had already criticized the Fed’s interest rate policy in an interview on CNBC on Thursday, saying he was concerned higher rates could impact the USA economy. Both political and economic officials believe that the central bank needs to operate free of political pressure from the White House or elsewhere to properly manage interest rate policy.

In Washington, automakers and suppliers at a public hearing on Thursday pleaded with Trump’s administration to reject tariffs on vehicle imports, which they say could cripple domestic manufacturing and cause job losses.

The cartoon does not mention that soymeal prices in China are rising, triggering fears of food inflation. “No president should interfere with the workings of the Fed”, Fisher said. “But I don’t like all of this work that goes into doing what we’re doing”.

The question is whether Trump’s remarks mark the beginning of a new era of greater USA intervention, one in which the president and members of his cabinet feel free to weigh in on economic issues that were traditionally seen as outside the political domain.

U.S. central bankers project two more interest rate increases this year and another three in 2019.

A top Federal Reserve official, meanwhile, warned the trade war could hurt the US economy. They said, ‘Now you’re more than complaining.

“It’s one of the things that Bill Clinton did extremely well”.