“Can you imagine if we left interest rates where they were, if we didn’t do quantitative tightening. Taking money out of the market if we didn’t do quantitative talk, and this would lead to a little bit lower dollar,” he said.
Trump said the US “is booming like never before,” while other countries are “doing very poorly, and that makes it even harder for us to be successful.”
Fed officials kept their target range for the federal funds rate on hold, at 2.25 per cent to 2.5 per cent, when they met in late January. They’ll gather again in Washington March 19-20, when most economists and investors expect they’ll again leave rates unchanged.
Powell this week repeated the Fed’s recent mantra of being “patient” on future rate moves. Trump in late 2018 repeatedly castigated Powell and the central bank for the series of rate increases made from record low levels achieved during the severe recession a decade ago.
“The only problem our economy has is the Fed,” Trump tweeted on December 24. A few days before that, Bloomberg reported that Trump had discussed firing Powell, his pick to lead the Fed, out of frustration with the string of rate increases.
Bloomberg
Bloomberg
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