Trump blames ‘clueless’ Fed chairman Powell for recession signs
US president blames Powell’s policies, saying they are holding the US back
US President Donald Trump leaves the Rose Garden with Jerome Powell. Photograph: Carlos Barria/File Photo/File Photo/Reuters
The president tried to deflect criticism that his trade war with China is harming the economic outlook, as stock markets tumble and bond yields show signs of an impending global slowdown.
He repeated his criticism that the US is being harmed by the Fed not lowering interest rates quickly enough relative to other countries.
“Spread is way too much as other countries say THANK YOU to clueless Jay Powell and the Federal Reserve. Germany, and many others, are playing the game! CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards and Gains, but the Fed is holding us back. We will Win!” Mr Trump tweeted. – Bloomberg