Trump: “Interest rate Increase would be stupid.” US President Donald Trump urges the Federal Reserve not to increase interest rates this month. “I think it would be stupid, but what can I say?” Trump stated in an interview, according to the reports.
The parasol of central banks in the US will meet next week to review the policy to proceed.
According to Trump, an interest rate hike is unacceptable because of the current trade strains.
“You have to understand, we are currently involved in multiple trade battles,” states the American president.
“We are winning these fights, but I need some space,” Trump states.
It is not that the president has given his views for the first time on the policy of the Fed.
He blames the banking umbrella of impairing economic growth by continually increasing interest rates.
Criticism of the independent Fed by presidents was highly unusual before Trump’s inauguration.
Authorities estimate the chance of a next rate hike at 70 percent next week.