Fed's interest rate increases 'don't have to go as fast'

Marco Green
October 11, 2018

Money Map Press chief strategist Keith Fitz-Gerald, Fox Business correspondent Kristina Partsinevelos and Capital Wave forecast editor Shah Gilani discuss President Trump's criticism of the Federal Reserve.

President Donald Trump again criticised the Federal Reserve for raising interest rates, calling it a "mistake" hours after the worst U.S. stock market sell-off since February.

White House Press Secretary Sarah Sanders said in a statement following the close of markets that the United States economy is "incredibly strong" despite the selloff, which analysts attributed in part to trade tensions with China. "I just don't think it's necessary to go as fast". The Fed has "gone insane", he said.

Trump, who has been critical of the central bank's interest rate increases, tells reporters after landing in Erie, Pennsylvania, that he thinks "the Fed is making a mistake".

Chicago Federal Reserve Bank President Charles Evans visits the online music retailer Sweetwater, in Fort Wayne, Indiana, U.S., September 14 2018. Officials expect to hike rates another quarter percentage-point by the end of this year and gradually continue to raise rates at least through 2019.

Trump said Tuesday that the economy is enjoying "record-setting" numbers and "I don't want to slow it down even a little bit, especially when we don't have the problem of inflation".

"I'd rather pay down debt or do other things, create more jobs, so I'm anxious about the fact that they seem to like raising interest rates".

Other reports by Click Lancashire

Discuss This Article

FOLLOW OUR NEWSPAPER