Economy

The Fed Is Learning What Being Donald Trump's Ex-Girlfriend Feels Like

The Fed Is Learning What Being Donald Trump's Ex-Girlfriend Feels Like

The US, which is now doing well, should preserve its right to recover what was lost through such practices as illegal currency manipulation and trade deals that were not profitable for the US, the president tweeted.

After the interview, Trump reiterated criticism of planned interest-rate hikes by the Federal Reserve, saying in a Twitter post that tightening policy would diminish any United States advantage in trade and exacerbate losses from "BAD trade deals". "Debt coming due & we are raising rates - Really?" Presidents have traditionally delegated the nation's stance on the dollar to the Treasury secretary, who usually hews to the position that a strong dollar is good for the economy.

Federal Reserve Board Chairman Jerome Powell testifies during a hearing before the Senate Banking, Housing and Urban Affairs Committee July 17, 2018 on Capitol Hill in Washington, DC.

But falling prices and lower sales would hurt USA soybean farmers, it warns, pointing out that US prices have fallen by 18 percent from May to early July, to their lowest this year. And because we live in a reality where logical human behavior reigns supreme, the president has remained demure on all Fed-related topics this morning... The markets are very risk-off. "If we see a consistent drumbeat on this from the president, it probably is going to weigh on the dollar".

Trump's comments are facing criticism.

European auto shares, sensitive to trade tensions as US officials work toward slapping tariffs on vehicle imports, fell 2.1 percent.

After he posted the tweet, the U.S. Dollar Index fell slightly. Earlier this year, he invoked national security as a justification for taxing imported steel and aluminum.

More news: Trump Administration Challenges Retaliatory Tariffs in WTO

In a pair of tweets, Trump said China, the European Union and others had been "manipulating their currencies and interest rates lower" while the dollar gained in strength, eroding "our big competitive edge".

Trump has so far focused on using tariffs to force China to change its trade practices.

The US dollar lost ground against rival currencies following the comments. The yuan tumbled this week to its lowest value in a year, raising questions about whether Beijing was letting the currency weaken to insulate itself from American trade measures.

On Thursday, the European Union said it was developing plans to hit back at the USA if it attempted to place import tariffs on cars, something Trump has repeatedly threatened to do.

Trump's comments are a break with tradition that presidents avoid commenting on the path of domestic monetary policy.

With the economy growing at a healthy rate, Powell has said the time is right to normalize interest rates, which have been at historic lows as the economy has recovered.

After Trump's interview with CNBC was made public, Lindsay Walters, a White House spokeswoman, said the president "respects the independence of the Fed".


  • What Bruce Willis thinks about 'Die Hard' being considered a Christmas movie

    Cybill Shepard, who co-starred with Bruce in his breakout role - " Moonlighting " - also took her shots. Some of the roasters included Edward Norton , Demi Moore and Dennis Rodman .

    Read Mueller’s full indictment against 12 Russian officers for election interference

    Donald Trump blamed Barack Obama for not responding aggressively enough to Russian hacking of Democrats in the 2016 USA election. Rosenstein said there is no allegation that USA citizens were involved in the alleged crimes described in the indictment .
    Khamenei Adviser: Iran Coordinates Military Presence in Syria With Russia

    Khamenei Adviser: Iran Coordinates Military Presence in Syria With Russia

    Israel has been on high alert as Syrian President Bashar al-Assad's forces advance against rebels near the Golan and Jordan. Trump and Putin are expected to discuss Iran's regional role and the Syrian conflict at a summit in Helsinki next Monday.
  • U.S.  intel chief stands by assessment of Russian meddling

    U.S. intel chief stands by assessment of Russian meddling

    Trump seemed to return the favor by waiting until Putin had arrived at the palace before leaving his hotel. Because he talked about bringing the U.S. -Russia relationship back to normal", Putin said .
    White House struggles to contain fallout from Trump-Putin summit

    White House struggles to contain fallout from Trump-Putin summit

    Facing anger upon his return stateside Trump sought to walk back his remarks in an extraordinary postscript to the meeting. Trump's comments also stunned some pundits on the president's favorite television channel: Fox News .
    Woman Missing a Week Found Alive Down a Cliff

    Woman Missing a Week Found Alive Down a Cliff

    She was on a road trip from her home in Portland to visit her sister in Los Angeles County when she crashed. She stayed alive "by drinking water from the radiator of her vehicle ", according to the Highway Patrol.
  • At least 13 people dead after duck boat capsizes in American lake

    At least 13 people dead after duck boat capsizes in American lake

    Jennie Carr witnessed the last moments of the tourist duck boat while on a lake cruise aboard the Showboat Branson Belle. Lester's boyfriend, Trent Behr, added: "We actually heard the captain say the boat flipped or the boat was sinking".
    France celebrate in Paris after World Cup win in Russian Federation

    France celebrate in Paris after World Cup win in Russian Federation

    Hundreds of thousands of people packed the Champs Elysees in Paris as France's victorious football team paraded the World Cup . The Paris metro station Bercy was renamed "Bercy les Bleus " as a tribute to the French football team.

    U.S. President Trump has 'low expectations' for Putin meeting

    In an interview with CBS, Trump branded the European Union as a foe of the United States for what they do to Americans in trade. The Pentagon in February called for a revamp of the USA nuclear arsenal and development of new low-yield atomic weapons.
  • Boris Johnson keeps powder dry - for now

    Boris Johnson keeps powder dry - for now

    A Brexiteer source said that while ministers "haven't yet" accepted the amendments "all the noise is in that direction". He used a Daily Telegraph column to ominously say "I will resist - for now - the temptation to bang on about Brexit".
    Putin Says He Agreed With Trump to Secure Syria Border With Israel

    Putin Says He Agreed With Trump to Secure Syria Border With Israel

    The summit, which is being closely watched around the world, was not the first time Trump and Putin have held talks. And we paint ours as if ours is always just on the up and up, but we get involved in foreign countries' elections.
    Kerber stuns Serenas history bid in Wimbledon final

    Kerber stuns Serenas history bid in Wimbledon final

    Kerber though needs to serve better to make sure she doesn't gift easy points to her American opponent, who is staring at history. No, Williams won't yet be going home with her 24th Grand Slam title to tie the record Margaret Court has held since 1973.