Trump: Federal Reserve Is the ‘Only Problem Our Economy Has’

(AP) -
trump federal reserve
The Federal Reserve Building in Washington D.C.

President Donald Trump says the only problem facing the U.S. economy is the Federal Reserve, which has raised its key short-term rate four times this year, given the low unemployment rate and brisk pace of economic growth.

The president is tweeting that Fed officials “don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders.”

He adds, “The Fed is like a powerful golfer who can’t score because he has no touch — he can’t putt!”

President Trump has argued that the Fed is hindering the economy through its rate increases, which are intended to prevent inflation from rising too high. His major target for criticism has been Jerome Powell, whom the president elevated to chairman early this year.