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Trump slams rate increases by independent Federal Reserve

 


WASHINGTON (AP) — President Donald Trump on Thursday cast aside concerns about the Federal Reserve's independence, saying he was "not happy" with the Fed's recent interest rate increases.

Trump told CNBC in an interview: "I don't like all of this work that we're putting into the economy and then I see rates going up."

Last month, the Fed raised its benchmark rate for a second time this year and projected two more increases in 2018. Its rate hikes are meant to prevent the economy from overheating and igniting high inflation. But rate increases also make borrowing costlier for households an...



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