ECONOMY/FEDERAL RESERVE/TRUMP AS PRESIDENT: “President Donald Trump on Monday [8-20-18] said he would criticize the Federal Reserve if it continues to raise interest rates, setting up a potential clash next month when the central bank is expected to do just that…Powell was nominated by Trump in November and took the helm of the central bank in early February. Since then, the Fed has hiked rates twice and has signaled that it will do so again in September. According to Reuters, Trump said he was unhappy that other countries‘ central banks were keeping the value of their currencies low. A weaker currency makes exports cheaper and imports more expensive…The president, a real estate mogul, has repeatedly mentioned his preference for low interest rates. He reportedly told attendees at a fundraiser on Friday that he was disappointed by the chairman, saying his advisers told him Powell liked ‘cheap money.’ Powell, who had already served on the Fed board for six years before becoming chairman, was seen as more sympathetic to Republican calls for a simpler rule book for banks, yet also in line with former Chair Janet Yellen on interest rate policy.”
–Victoria Guida, “Trump: ‘I should be given some help’ by Fed,” Politico, August 20, 2018 5:22 pm