Trump lays into the Federal Reserve, says he’s ‘not thrilled’ about interest rate hikes
“In a stinging and historically rare criticism, President Donald Trump expressed frustration with the Federal Reserve and said the central bank could disrupt the economic recovery. Presidents rarely intercede when it comes to the Fed, which sets the benchmark interest rate that flows through to many types of consumer debt.”
USAGOLD note: The gold price is moving higher on this news – as it stands at the moment, retracing most of today’s downside . . . . .We have consistently pointed to hawkish Fed interest rate policy in contrast to dovish policies across either ocean as the driving force behind the strong dollar (up to yesterday’s MarketWatch comments) That policy, if continued, could nullify the Trump agenda especially with respect to reducing imports and raising exports. It is not surprising the president would call out the Fed on the matter. In fact, I am surprised it didn’t happen sooner.