Federal Reserve signals September interest rate hike

Trump criticized Powell Fed rate hikes at GOP fundraiser reports
Greg Nash
Author

23 August, 2018

The dollar fell versus the euro and pound on Tuesday (Aug 21) after US President Donald Trump hit out at the Federal Reserve's interest rate rises, accusing it of not backing his economic plan, while most equity markets climbed looking ahead to China-US trade talks.

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 U.S. economy.

President TrumpDonald John TrumpArizona GOP Senate candidate defends bus tour with far-right activist Alyssa Milano protests Kavanaugh in "Handmaid's Tale" costume Bomb in deadly Yemen school bus attack was manufactured by United States firm: report MORE on Monday ramped up his criticism of Federal Reserve Chairman Jerome Powell and the central bank's interest rate hikes in an interview with Reuters.

Asked by Reuters whether he believes in the independence of the Fed, the president said, "I believe in the Fed doing what's good for the country".

This isn't the first time Trump has taken exception to the Fed's gradual interest-rate hikes.

He said the Fed was designed so that it would be accountable to policy makers and the public, but it was also created to be somewhat independent from jawboning from the White House. Trump said to Reuters.

Gmail for Android adds confidential mode
Users using Gmail with a work or school account will need to contact their administrator in order to use confidential mode . Tap on that and you'll be given options to set a passcode for the email, an expiration date, and more .


More Than 340 Papers Publish Anti-Trump Editorials
He tweets that the Globe "is in COLLUSION with other papers on free press". On Thursday morning, Trump again took to Twitter to denounce "fake news".


Liverpool vs West Ham, Premier League 2018-19
We are the ones that have to do more, to fight more, to do all these things. "Somebody told me we were the unluckiest team". We are in for an entertaining 90 minutes at Anfield, so here is everything you need to know about the match...


Financial market analysts doubt current Fed policy makers are likely to be cowed by Trump's outbursts over their policy choices. The Fed has raised rates twice this year.

US stocks fluctuated and the dollar fell following the report. "I'm not thrilled", Trump said in the interview, referring to Powell.

Powell, a Republican, supported former Fed Chair Janet YellenJanet Louise YellenTrump attacks pose new test for Fed chief Trump criticizes Fed for rate hikes in break with precedent Signs of global stress will test Federal Reserve on economy MORE's decisions to hold off on rate hikes until late 2015. Mr. Trump also criticized Ms. Yellen as a presidential candidate in 2016, saying she should be "ashamed of herself" for keeping interest rates low.

A Fed spokesman declined to comment on Trump's remarks on Monday.

"We're going to do our business in a way that's strictly non-political, without taking political issues into consideration, and that carries out the mandate Congress has given us", he said. Led by Jerome Powell, a Trump appointee who took over the chairmanship in February, policy makers are gradually raising rates. Trump said to Reuters about Powell. The president does choose members of the policy-setting Fed Board, and in addition to Powell, he has appointed one Fed governor and nominated three others.


More news


  • Live UEFA Super Cup

    Live UEFA Super Cup

    Courtois trained with his new team-mates at the Lillekuela Stadium on Tuesday night ahead of the game with his former club. Atletico Madrid showdown will be the first time in 43 years that both UEFA Super Cup sides have hailed from the same city.
    Qatar pledges $15bn of direct investments in Turkey - Ankara

    Qatar pledges $15bn of direct investments in Turkey - Ankara

    The emir of Qatar also arrived in Turkey on Wednesday on a "working" visit aimed at strengthening mutual cooperation. Erdogan suggested Turks would stop procuring US-made iPhones and instead buy Korean Samsung or Turkish-made Vestel.
    NASA embarks on

    NASA embarks on "dangerous" mission to the Sun

    NASA chief of the science mission directorate, Thomas Zurbuchen, said Parker is an "incredible hero of our scientific community". The mission is named for Dr Eugene Parker , a physicist at the University of Chicago who proposed the existence of solar wind .
  • White House counsel reported to be cooperating extensively with Mueller probe

    White House counsel reported to be cooperating extensively with Mueller probe

    Mr Mueller is investigating possible collusion between Russian Federation and Mr Trump's team in the 2016 U.S. election. He added in response to Mr Trump's tweets that he doubts the president has "ANY IDEA what McGahn has told Mueller.
    Detroit Tigers incorporated Aretha Franklin's song titles into their game notes

    Detroit Tigers incorporated Aretha Franklin's song titles into their game notes

    According to TMZ , she was too emotional to hit the stage, but Questlove convinced her she was fit for the job. Foster Siggers said Franklin was "magnificent on screen" but "really low-key" in her personal life.
    Tesla: Musk's tweet a bridge too far?

    Tesla: Musk's tweet a bridge too far?

    That would allow the shorts to buy back the stock at a lower price, return the shares to the lender, and pocket the difference. Here are some of the key events in Tesla Inc's turbulent history as a public company.
  • Kohli century leaves England facing big task to win 3rd test

    Kohli century leaves England facing big task to win 3rd test

    Kohli , who scored his first hundred in England in the first Test of the series, made 97 before being dismissed by Adil Rashid . They could dictate terms after skittling England out for 161, with paceman Hardik Pandya taking a stunning 5-28 in six overs.
    Pregnant reality star found dead on Bronx sidewalk

    Pregnant reality star found dead on Bronx sidewalk

    She went on to work as an agent trainee at UTA before moving on to jobs in video production at Complex Networks and Refinery29. Lyric posted a snap of her dinner at the Soho Grand Hotel in NY with the caption: "This is where my heart is".
    Teams heading out to help ailing Northwest orca

    Teams heading out to help ailing Northwest orca

    Scientists used a dart to administer antibiotics to an ailing three-year-old killer whale Thursday, U.S. officials reported. It returned to its family of whales in Canada later that year and in 2013 was seen with its new calf.
  • Guardiola praises Aguero after Huddersfield hat-trick

    Guardiola praises Aguero after Huddersfield hat-trick

    The sight - three months later - of a healthy looking baby boy in a City kit was too much for some people on social media. But City had to wait for a devastating 10-minute spell midway through the first half with three superbly taken goals.
    Aretha Franklin, Queen Of Soul, Dies At 76

    Aretha Franklin, Queen Of Soul, Dies At 76

    Franklin's music also helped serve as a springboard for a number of young guitarists who later became legends themselves. Anthony said her footprint really started during the civil rights movement. "She will forever be our Queen of Soul ".
    NYU offers full-tuition scholarships for all medical students

    NYU offers full-tuition scholarships for all medical students

    At the same time, all current NYU medical students received emails saying the school is offering them full-ride scholarships too. Those 93 students will benefit from the scholarship, along with 350 others enrolled further along in the program.