Trump renews criticism of the Federal Reserve

Reuters reported that U.S. President Donald Trump once more criticised the Federal Reserve.

Trump accused the U.S. central bank’s tight monetary policy as contributing to a strong dollar and as a consequence hurting the United States’ competitiveness.

Trump’s comments were made at the annual Conservative Political Action Conference in Oxon Hill, Maryland.

Trump has repeatedly criticized the Federal Reserve and its chairman, Jerome Powell, whom he appointed to head up the Fed, for raising interest rates.

The U.S. central bank, after raising interest rates four times last year, has signalled recently that it will be “patient” before tightening monetary policy further, in a nod to rising concerns about the economic outlook amid financial markets volatility, slowing global growth and a trade war between the United States and China.

Via Reuters