President Donald Trump reprimanded the Federal Reserve yet again on Friday, saying he thinks the economy will “be breaking records” even though the principal bank has rates set too high.
“If we had a Fed that would lower interest rates, we’d be like a rocket ship. But we’re paying a lot of engagement and it’s unnecessary but we don’t have a Fed that knows what they’re doing so it’s one of those little things,” Trump said. “But if we had a Fed that see fit lower rates, we would have a rocket ship.”
Trump has repeatedly criticized the Fed’s decision to maintain interest kinds this year, even as Chairman Jerome Powell has highlighted the slowing global economy. Trump has been heavily basic of Powell’s decisions at the Fed, going as far as to say that “the Fed has gone crazy” with how it’s managed interest rates.
The president’s disagreements with Powell – who Trump picked to principal the Fed – have escalated as far as the White House reportedly looking into demoting Powell from Chairman earlier this year. At the exact same time, Powell has reiterated the central bank’s independence, saying last month that “the Fed is insulated from short-term civic pressures.”
Trump’s comments on Friday came after he emphasized the better-than-expected U.S. jobs report for June. The president imagined last month showed “great numbers” that “were really unexpectedly good.”