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Trump calls Fed & # 39; most difficult problem & # 39; against the United States



Robust jobs growth sparks debate over Fed's next move

Small Business & Entrepreneurship Councils Karen Kerrigan, Fairfax Global Markets CEO Paul Dietrich and Fifth Third Bank Chief Investment Strategist Jeff Korzenik discuss whether the Federal Reserve will lower rates by 2019. [19659003] On Friday evening, President Trump went after the federal government and paralyzed the US central bank as the "most difficult problem" against the country.

"The raised rates too early too often and tightened, while others just did the opposite," Trump wrote in a tweet. "Just as we do from the day after the big choice as the market shot up, it could have been even better ̵

1; massive extra wealth would have been created and used very well. Our hardest problem is not our competitors, it's the Federal Reserve!"

The president has repeatedly called on the US central bank to lower the federal funds rate benchmark – although Fed decision-makers voted to raise interest rates four times in 2018, with a current range between 2.25 percent and 2.50 percent, rates still historically low. 19659006] MORE FROM FOXBUSINESS.COM …

Trump has not cut away from criticizing both the Fed and its president, Jerome Powell, whom he hand-picked more than a year ago. In early June, Trump doubled its attacks, blaming itself for raising rates too quickly and adding to "ridiculous quantitative tightening".

Most recently at the June political meeting, the Fed noted the possibility of a cut in interest rates in July, although it ultimately depended on uncertainties surrounding the US and China trade war and persistently subdued inflation. 19659004] A better-than-expected June job report – analysts expect the US economy to add 160,000 jobs; Instead, it created a huge 2240,000 – apparently stopped hoping for an immediate fall in prices (although traders continue to praise in a 100 percent chance of politicians voting to ease monetary policy during their July meeting).

"A 25 basis point insurance cut is still on the table in July, but in addition to the NAFCU sees no reason to expect further easing this year," said Curt Long, chief financial officer of the National Association of Federally-Insured Credit Unions.

Powell is slated to testify to Capitol Hill before the House Financial Services Committee on Wednesday and the Senate Banking Committee Thursday, where he is expected to shed light on Fed's interest rate policy.

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