ECONOMY/FEDERAL RESERVE/TRUMP AS PRESIDENT: “President Donald Trump on Friday [7-19-19] picked up his attacks on the Federal Reserve, faulting the central bank for a slowdown in economic growth. Trump went after New York Fed President John Williams, who in a speech the day before had appeared to suggest the Fed needs to cut interest rates at the first sign of a slowdown. Williams’ comments, which many took as a sign the Fed will cut rates later this month, sent markets moving before a spokesperson clarified that Williams’ view is based on ‘research”’ and is ‘not about potential policy actions at the upcoming FOMC [Federal Open Market Committee] meeting.’ Trump weighed, tweeting, ‘I like New York Fed President John Williams first statement much better than his second. His first statement is 100% correct in that the Fed ‘raised’ far too fast & too early.’ The president has been fixated on the Fed’s moves for months, leveling constant criticism at Chairman Jerome Powell for a series of rate hikes and for not moving to cut rates sooner.”
–Caitlin Oprysko, “Trump hammers Fed after confusion over rate cut predictions,” Politico, July 19, 2019 10:46 am