A history of President Donald Trump's tweets about the Federal Reserve.
Over the last year, President Donald Trump has amped up his criticism of the Federal Reserve via his favorite megaphone: his Twitter account. His public berating of the central bank began only two months after his own nominee, Jerome Powell, became Fed chairman in February of 2018 and has only escalated since then.
Q2 GDP Up 2.1% Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck. Almost no inflation. USA is set to Zoom!Trump wants the Fed to stop unwinding its balance sheet and cut the benchmark interest rate. Until March of this year, the Fed did not appear to signal a significant leaning toward a rate cut. But in the June 19 meeting where the Fed kept rates steady, the Fed cited trade concerns, a global slowdown, and downward pressures on inflation as possible reasons for a rate cut in the future.
Trump, unhappy with higher rates potentially constraining lending and business activity at large, lashed out at the Fed leading into the last FOMC meeting of 2018, warning that the Fed needed to “feel the market” and stop raising rates. Trump then jabbed: “Good luck!”Trump fumed over the decision, but in private. Bloomberg reported two days after the meeting that Trump had discussed firing Powell.
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