CHINA/ECOMONY/FEDERAL RESERVE/TRUMP AS PRESIDENT: “President Donald Trump on Tuesday [12-18-18] warned that the Federal Reserve would be making a ‘mistake’ if it moves to hike interest rates when the Federal Open Market Committee meets on Wednesday [12-19-18], weighing in once again on an issue that presidents have typically kept at arm’s length…Trump has railed against the possibility of an increase in interest rates, and his calls for the FOMC to stand down come as global stock markets continue to fluctuate amid fears of slowing economic growth and questions about the U.S. trade dispute with China. His weighing-in on the issue is a break from precedent, as the Fed has typically operated independently of the White House to avoid political influence. Trump’s willingness to speak out on Federal Reserve policy is likely to heap additional pressure onto Fed Chairman Jerome Powell, forcing him to make fiscal policy while also avoiding the appearance of bending to the president’s will.”
–Caitlin Oprysko, “Trump continues pressure on Fed ahead of possible interest rate hike,” Politico, December 18, 2018 8:20 am