President Trump, who blasted the Fed several times for keeping interest rates too low to help Hillary, now claims the Fed is hiking too fast.

Says He hasn’t spoken to Fed Chair Powell but Trump Criticizes Fed Rate Increases Again.

President Trump repeated his displeasure with higher short-term interest rates set by the Federal Reserve, but said he hadn’t spoken with Fed Chairman Jerome Powell about his frustration because he didn’t want to meddle with monetary policy.

Speaking to reporters outside the White House on Tuesday, Mr. Trump said he believed the Fed was increasing its benchmark rate too fast given the apparent lack of inflationary pressures in the economy.

“The Fed is doing what they think is necessary but I don’t like what they are doing because we have inflation really in check,” Mr. Trump said. The president said he was concerned higher rates would slow down economic growth.

“You don’t see that inflation coming back,” Mr. Trump said. “Now, at some point it will…. I just don’t think it’s necessary to go as fast” on rates.

Mr. Trump hadn’t spoken with Mr. Powell about his concerns because, he said, “I like to stay uninvolved with that.”

Three-Point Translation

  1. I said I don't want to meddle, but I really do.
  2. I am worried about the stock market.
  3. Please don't sink the stock market before the midterm elections or I may get really nasty.

Mike "Mish" Shedlock

Yellen Wants Fed to Commit to Future Booms to Make Up for Busts

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Trump Discusses Firing Fed Chair Jerome Powell: Can He? Sure!

Trump is extremely displeased with Powell's rate hikes. Trump has asked advisors if he can fire Powell. Watch out.

Trump Rant of the Day: “I want tariffs. Bring me some tariffs!”

Trump is fed up with inaction against China. In an Oval Office meeting, Trump demanded Bring Me Some Tariffs!

Inflation Irony: Nearly Everyone Wanted It, Now They Don't

Inflation was supposed to pick up when the economy did. Economists claim it has. Now the concern is too much inflation.

Trump Slams Fed as "Crazy"

Just 1 day after saying he has not met with Powell because he did not want to interfere, Trump slams the Fed as "crazy".

St. Louis Fed President Criticizes Rate Hike Expectations as Too Aggressive: Is He Correct?

Citing weak inflation expectations and weak economic reports, St. Louis Fed’s Bullard says expected rate hikes ‘aggressive’.

Trump Criticizes Fed Rate Hikes and Blasts the Strong Dollar

Trump is speaking his mind on interest rate policy, a subject that is normally taboo for presidents.

Bullish On Oil Because of Trump? Don't Be!

Some are bullish on oil because Trump threatens to kill the deal with Iran. It's faulty thinking. Way faulty.

Fed-Proof Bond Bet?

The yield curve is the flattest since 2007. Nonetheless, traders think it will get flatter. The bond bet du jour is the next Fed chair will keep hiking but not as much as the Fed thinks.