Economy

Trump understands Fed independence but wants strong economy: White House official

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The Trump administration is doubling down on the president’s disapproval of the Federal Reserve, a day after he criticized the Fed chairman he appointed, White House Deputy Press Secretary Hogan Gidley said Tuesday.

Trump, not happy with Jerome Powell for raising interest rates at what the president thinks is too fast a pace, told Reuters on Monday that he is “not thrilled” with the Fed chairman. He added that the United States was not getting support from the Fed during trade talks while other countries’ economies are “accommodated” by their central banks.

While past presidents have historically steered clear of criticizing the Fed, because its independence has been seen as important for economic stability, Gidley said Trump recognizes the Fed’s independence but wants nothing to “stand in the way of an incredible booming economy.”

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Chris G. Long

Chis Long is an award winning writer for The San Andreas Times, and various other publications. He lives in Sacramento with his wife and two children.

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