Trump Won’t Acknowledge the Independence of the Fed

Trump Won’t Acknowledge the Independence of the Fed

Treasury Secretary Steven Mnuchin recently told reporters that he had personally spoken to Trump about the central bank and that the president respects the independence of the Federal Reserve.

Speaking at a fundraising event in the Hamptons, Trump said he wanted Powell to start acting like a cheap-money chairman while speaking about the recent increase in interest rates.

The statement released back then presented little changes to the previous one´s language, but was generally positive, as despite the Fed left rates unchanged as expected, policymakers upgraded their view on the USA economy, in line with two more rate hikes this year.

Rick Rieder, BlackRock's chief investment officer of global fixed income, will join CNN chief business correspondent Christine Romans to talk about it Wednesday on "Markets Now".

"Strong" economic growth to keep the Federal Reserve in the tightening path. Hosted by CNNMoney editor-at-large Richard Quest and others, the 15-minute program features incisive commentary from experts.

"I asked him specifically about the independence of the Fed, and he reinforced the fact that their goal is to [address] unemployment, our economy, and that is their only objective", Scott (R-S.C.) said in an interview. "I'm not thrilled", Trump said in an interview with Reuters. "I am not happy about it". Trump said to Reuters.


A Fed spokesman declined to comment on Trump's remarks on Monday. The president publicly questioned the interest-rate hikes in July.

Sure enough: "U.S. stocks dipped after Trump's comments to Reuters".

USA businesses have a message for the Trump administration: New tariffs on $200 billion of Chinese imports will force Americans to pay more for items they use throughout their daily lives, from cradles to first bicycles and wedding dresses to coffins.

With the federal interest rate climbing twice this year, the organization has planned two more quarter-point rate hikes in 2018 and three more in 2019. "So I would hope the president would refrain from making comments like that". "We do our work in a strictly nonpolitical way, based on detailed analysis, which we put on the record transparently". Typically, the greatest influence a president has over the Fed is the appointment of governors.

"I'm very concerned, especially given this very divisive and highly politicised environment, that bringing the Fed into that environment could complicate the Fed's communications [to the public], its support in the Congress and among the American people", said Donald L Kohn, who spent 40 years at the Fed and retired as its vice chairman in 2010.

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