Trump complains about interest rate rises

Trump criticized Powell Fed rate hikes at GOP fundraiser reports

But Trump has made reducing US trade deficits a priority, and the combination of rising interest rates and a strengthening dollar poses risks for export growth.

"Most Fed-watchers are of the view that Powell is emphasising the need for financial stability and with a positive United States economic backdrop is obliged to tighten policy".

Critical comments by U.S. President Donald Trump about the country's central bank held back some stocks on Tuesday, while the dollar fell for the fourth consecutive day in its worst spell since March.

"What Trump is anxious about is that the Fed has, in my own words, growth phobia", Stephen Moore, a Republican economic commentator who advised Mr. Trump during the 2016 presidential campaign, told the Wall Street Journal.

In currencies, the dollar came under pressure after Trump reiterated his displeasure at the Fed's rate hikes, saying the central bank should do more to help him boost the USA economy.

Trump, unlike the Fed, doesn't seem concerned with rising prices as the 12-month rate of core inflation in July rose to 2.4%, "a level that hasn't been seen since September 2008", according to MarketWatch.

Trump slammed by ex-intelligence chiefs for removing CIA head’s clearance
Trump called Ohr a "disgrace" outside the White House and said, "I suspect I will be taking it away very quickly". In his Friday comments, Trump said he had gotten a "tremendous response" for his action against Brennan.

The dollar's advance - it has gained 8 percent since January - would not be reversed, however, unless the Fed decided "that there has been an unwarranted tightening of financial conditions and want to slow the pace of rate hikes", Turner said.

Neil Wilson, the chief market analyst at Capital.com, said in an email on Tuesday morning: "Trump's not thrilled with the Fed raising rates".

However, JP Morgan Asset Management global market strategist Tai Hui said: "Given the little progress made on the US-China negotiations in the past six months, investors' expectations are still low. I think on this one the market will come round again and the dollar bounces back, but nonetheless, it does appear the market is anxious that the president will exert influence on Fed policy".

The Fed is expected to raise rates twice more this year. "The other countries are accommodated". "This can only happen to Trump", the president reportedly joked. "I think China's manipulating their currency, absolutely".

Trump has also publicly criticized Powell several times this summer and reportedly did so again Friday at a GOP fundraiser in NY, saying he thought the chairman would support "easy money". "I'll let you know in seven years".

Donald Trump's remarks are the most personal criticism of Jerome Powell's performance so far.

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