U.S. Federal reserve damaging to economy more than China, says Donald Trump

U.S. President Donald Trump on Thursday slammed the Federal Reserve, alleging that its policies are more damaging to the American economy than China.

Mr. Trump’s remarks were the latest in a series of recent barrages he has unleashed at the federal reserve.

Demanding lower interest rates, the President said that people are very disappointed with the central bank and its Chair Jerome Powell.

“The Fed has called it wrong from the beginning, too fast, too slow,” Mr. Trump said in a series of tweets.

“They even tightened in the beginning. Others are running circles around them and laughing all the way to the bank. Dollar and rates are hurting our manufacturers,” he said, demanding a lowering of the interest rates.

“We should have lower interest rates than Germany, Japan and all others. We are now by far the biggest and strongest country, but the Fed puts us at a competitive disadvantage. China is not our problem, the Federal Reserve is! We will win anyway,” Mr. Trump said.

The President also said that China and the U.S. are working on selecting a new site for signing of Phase One of Trade Agreement, about 60% of total deal, after Asia-Pacific Economic Cooperation in Chile was cancelled due to unrelated circumstances.

“The new location will be announced soon. President Xi (Jinping and President Trump will do signing!” he added.

You have reached your limit for free articles this month.

Register to The Hindu for free and get unlimited access for 30 days.

Subscrion Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

*Our Digital Subscrion plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.