Trump Says He’s ‘Not Happy About’ Feds Raising Interest Rates

US Dollar Sinks as President Trump Hits Fed on Hikes

US Dollar Sinks as President Trump Hits Fed on Hikes

President Trump warned Beijing officials Thursday his willingness to drastically increase the amount of tariffs placed on Chinese goods, saying he was "ready to go to $500 billion" to protect American industries.

Mr Trump told CNBC: "They're making money easy and their currency is falling".

"I am not happy about it", Trump said. But at the same time I'm letting them do what they feel is best, ' Trump said. This article is strictly for informational purposes only. Last month, the White House slapped tariffs on $34 billion of Chinese products, which China met with retaliatory duties on USA goods.

In Washington, automakers and suppliers at a public hearing on Thursday pleaded with Trump's administration to reject tariffs on vehicle imports, which they say could cripple domestic manufacturing and cause job losses. Federal Reserve Chairman Jerome Powell has raised rates twice this year, with two more increases projected to come, saying he believes the economy is strong enough for the Fed to continue on its recent path.

China has been the biggest buyer of United States soybean but imports are now caught up in Beijing and Washington's tit-for-tat tariffs, pushing Chinese purchasers to look to Brazil to make up the shortfall. "I really like President Xi a lot, but it was very unfair".

In an interview on CNBC, Trump said, "I'm not thrilled" about the Fed's policy of gradually raising its key interest rates. The Fed is charged with keeping prices stable, often by raising interest rates to prevent the economy from overheating. In return, China levied taxes on the same value of US products.

"As usual, not a level playing field", Mr. Trump wrote.

Carmelo Anthony traded from Thunder to Atlanta Hawks
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The president also noted he is doing what's right for the American people and reiterated his long-held belief about the state of US trade with China.

U.S. companies may find themselves less able to compete globally as import tariffs contribute to rising input costs, forcing them to raise prices or lower their profit margins.

President Donald Trump broke a multi-decade tradition by weighing in on the Federal Reserve's monetary policy.

"One of the hallmarks of our great American economy is preserving the independence of the Federal Reserve". USA stock prices also briefly pared losses after news of his remarks. Most notably, during the Bill Clinton administration, Robert Rubin, first as head of the National Economic Council and later as Treasury Secretary, was to refrain from pressuring the Fed on policy, a precedent that has been followed by the administrations of George W. Bush and Barack Obama.

White House spokeswoman Lindsay Walters later said in an emailed statement that the president "respects the independence of the Fed".

"I'm not doing this for politics, I'm doing this to do the right thing for our country", Trump said.

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