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Saturday, April 6, 2019

Donald Trump Urges US Federal Reserve to Cut Interest Rates

Donald Trump Urges US Federal Reserve to Cut Interest Rates


Donald Trump intensified his attacks on the US Federal Reserve by calling on the central bank to cut interest rates.


The US president claimed that the Fed "is actually slower" in economic growth, adding that "there is no inflation."

Mr. Trump made the comments as data showed a sharp rebound in new job growth in March.


US companies added 196,000 jobs last month, up from 33,000 in February.


"I think they should lower prices and get rid of quantitative stress," Trump said.


The Federal Reserve has raised interest rates four times since Jerome Powell took office as chairman in February last year.


Mr Powell was appointed by Mr Trump, but the president has repeatedly criticized the Federal Reserve chairman for raising interest rates.


The Wall Street Journal rumored earlier in the week that adult male. Trump told adult male. Powell in an exceedingly recent phonephone conversation: "I assume i am cursed with you."


The Federal Reserve was expected to raise interest rates two more times this year. However, he has since said that he now takes a "patient approach" to interest rates.


Last month, she indicated that she did not expect to raise interest rates for the rest of 2019 amid slowing economic growth.


Mr Trump said earlier this week that the ex-president of the House of God would put the pizza to the Fed's board of governors.


Herman Caen, 73, has been nominated to be the Republican presidential candidate in 2012 and former chairman of the Federal Reserve in Kansas City.


Together with Mr. Kane, Mr. Trump also plans to nominate Stephen Moore, who advised the president during his campaign, to join the Federal Reserve Board of Governors.


Politicization of the Federal Reserve


By New York commercial reporter Michelle Flair


With his choice of Herman Cowen and Stephen Moore as the Fed's board of governors, Donald Trump appears to be politicizing the US central bank.


Their nomination represents a shift from the few key candidates to the US Central Bank. They were more traditional candidates and in one way or another they were accepted by both parties.


By contrast, it seems that Cain and Moore were chosen less because of their experience and more because of their loyalty to the president and thus aroused a great deal of political criticism.


Donald Trump has been publicly critical of the Fed's recent policy, criticizing US Federal Reserve Chairman Jerome Powell on Twitter.


The president prefers to cut interest rates and shift from quantitative tightening to quantitative easing.


Economist Stephen Moore has been publicly criticized by the Federal Reserve. While Herman Caen, the former president of Pizza Goodfathers, who worked in the Kansas City Fed, has often mentioned his outdated view that the US should return to the gold standard.


If their nominations are approved, they will be in a position to strengthen his view that the economy can grow at a much faster rate without increasing heat.


For investors, this may raise concerns about the central bank's independence.


While the new jobs figures for March exceeded expectations - analysts expected growth of between 170,000 and 180,000 roles - earnings data showed that the annual wage increase rate slowed to 3.2% in March, down from 3.4% in February.


"Overall, these data will not change anyone's opinion on whether the Fed will eventually have to raise this year," said Ian Shepherdson, chief economist at Pantheon Macroeconomic University.


"The gain is welcome but one month does not prove that the trend is still near 200,000, the doves will point to a modest average earnings gain per hour as evidence that the Fed's" patient "position is justified.


Wayne Thain, head of global currency strategy at Brown Brothers Harriman, said it was a "mixed report" with highlights, including an upward revision of 20,000 new jobs initially reported in February.



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Donald Trump Urges US Federal Reserve to Cut Interest Rates