ECONOMY/FEDERAL RESERVE/TRUMP AS PRESIDENT: “Breaking with tradition to avoid criticizing the Fed, Trump told CNBC he’s worried that the central bank’s policies will cancel out his efforts to speed up the economy…He also said that higher interest rates will strengthen the US dollar too much, putting the United States at a ‘disadvantage’ while central banks in Europe and Japan keep rates low. Trump complained that China’s currency is ‘dropping like a rock’…The US dollar lost ground against rival currencies following the comments…Presidents have historically avoided criticizing the Fed, which is designed to be independent from political interference. The Fed is charged with keeping prices stable, often by raising interest rates to prevent the economy from overheating. A loss of confidence from investors could lead to concerns of runaway inflation.”
-Matt Egan, “Trump rips Fed for raising interest rates,” CNN Politics, CNN.com, July 19, 2018 3:26 pm