President Donald Trump continued his assault on the Federal Reserve on Friday, bashing the central bank in three tweets — declaring in one that the U.S. economy doesn’t “have a tariff problem, we have a Fed problem.”
“The Euro is dropping against the dollar ‘like crazy,’ giving them a big export and manufacturing advantage … and the Fed does NOTHING!” Trump said in one post. “Our dollar is now the strongest in history.
“Sounds good, doesn’t it?” he posed. “Except to those (manufacturers) that make products for sale outside the U.S.”
The president then stated in his second tweet: “We don’t have a tariff problem (we are reigning in bad and/or unfair players), we have a Fed problem. They don’t have a clue!”
Trump then called for the Fed to further lower interest rates in his last tweet: “If the Fed would cut, we would have one of the biggest stock market increases in a long time.
“Badly run and weak companies are smartly blaming these small tariffs instead of themselves for bad management,” he continued, “and who can really blame them for doing that? Excuses!”
President Trump has continually ripped the Fed and Chairman Jerome Powell for not cutting interest rates further, asserting that monetary policy — not his tariff war with China — is hurting the economy.
Last month, the central bank lowered rates for the first time since 2008, but Trump said the cut should have been deeper.
He also has bashed the central bank for raising rates by a quarter point seven times in 2017 and 2018 — and on Tuesday, he slammed the Fed for not helping manufacturers with its monetary policy.