CHINA/ECONOMY/FEDERAL RESERVE/TRUMP AS PRESIDENT: “President Trump renewed his criticism of the Federal Reserve on Monday [6-10-19], saying that the Fed erred in lifting interest rates last year and put the United States at a disadvantage to China. Mr. Trump, in an interview on CNBC, said the Fed ‘made a big mistake: They raised interest rates far too fast.’ The president also seemed to lament that the Fed, which is independent of the White House, did not operate like China’s central bank, which is largely subservient to the government…Mr. Trump has repeatedly attacked the Fed’s decision last year to raise interest rates, accusing it of undermining his economic policies and slowing growth. And he has urged the Fed to cut rates and take additional steps to stimulate economic growth. His latest rebuke comes at a pivotal moment. The Fed has paused its steady march toward higher rates and begun reorienting policy toward potential cuts amid slowing economic growth. Markets now expect the Fed to cut rates within the next two months. Futures pricing suggested that a cut by the end of July is now about 84 percent priced into markets, up from less than 20 percent a month ago.”
–Jeanna Smialek, “Trump Renews Attacks on Fed, Putting Central Bank in a Bind,” The New York Times online, June 10, 2019