President Donald Trump once again took a shot at the Federal Reserve on Tuesday, saying he would like to see lower rates from the U.S. central bank in answering a question on the state of the economy and financial markets.
“I’d like to see the Fed with a lower interest rate. I think the rate’s too high. I think we have much more of a Fed problem than we have a problem with anyone else,” Trump said to reporters outside the White House. “I think your tech stocks have some problems.”
The Fed has raised rates three times this year and is expected to hike once more before year-end. The central bank also expects to boost rates three times in 2019. Some investors blame the Fed’s rate increases for the market turmoil that has caused the Dow Jones Industrial Average to erase its gain for the year on Tuesday.
Trump has repeatedly gone after the Fed for tightening monetary policy in the U.S. On Oct. 10, he said the Fed had “gone crazy” by continuing to raise rates. The next day, Trump said the Fed caused a correction in the stock market. Finally, Trump called the Fed his “biggest threat” because they were “raising rates too fast.”
A sitting president criticizing the Fed is rare. Trump’s predecessors have largely refrained from commenting on the direction of monetary policy.
Fred Imbert | @foimbert