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Enraged Trump likens U.S. Fed chief to 'enemy' China

10 Comments
By Doina Chiacu

President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell linked the trade war with China to risks to the U.S. economy, asking whether the man he handpicked to run the U.S. central bank was a greater "enemy" than Chinese leader Xi Jinping.

"As usual, the Fed did NOTHING! It is incredible that they can 'speak' without knowing or asking what I am doing, which will be announced shortly," Trump wrote on Twitter. "We have a very strong dollar and a very weak Fed. I will work'brilliantly' with both, and the U.S. will do great."

"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"

It was unclear what Trump meant when he said he would work"brilliantly" with both, and the White House did not immediately respond to a request for comment. Trump has repeatedly accused the Fed of keeping monetary policy too tight, which he says has boosted the value of the dollar and undercut economic growth.

The president said in a subsequent Twitter post that he would respond later on Friday to China's announcement on Friday that it would impose additional tariffs on U.S. products, the latest salvo in the U.S.-China trade war.

Trump has been pressuring the Fed to lower interest rates aggressively, arguing that the dollar's strength is undermining the competitiveness of U.S. manufacturers.

With some signs of growing recession risks in the United States, Trump administration officials have discussed actions to prevent a downturn before the November 2020 presidential election, according to media reports.

Those have included the imposition of a currency transaction tax to weaken the dollar and a rotation of Fed governors to try to undercut Powell's influence, the Washington Post reported, moves that would likely require congressional action.

Powell, in a speech earlier on Friday, stopped short of committing to further rate cuts. He characterized the U.S. economy as in a "favorable place" but facing "significant" risks, especially from what Fed officials have described as the harmful effects of the White House's trade war with China.

Before Powell spoke, a senior Trump adviser urged the Fed chief to lower rates. "America, we have your back. That's all he has to say," White House trade adviser Peter Navarro said in an interview with Fox Business Network.

© (c) Copyright Thomson Reuters 2019.

©2019 GPlusMedia Inc.

10 Comments
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So let's see -- Trump threatens to crash the economy with his trade policies, and expects the Fed to bail him out by lowering interest rates with unknown consequences? Is that about right?

Meanwhile, China just slapped more tariffs on US goods. Thank goodness winning trade wars is as easy as, say, not bankrupting casinos.

2 ( +2 / -0 )

The Alzhiemers has clearly taken over - he is showing everyone how unstable he is.

Is there anyone left on his own team to attack and belittle?

Get the nuclear football away from him - let Pence finish out the term.

He is unfit for office....

2 ( +2 / -0 )

So let's see -- Trump threatens to crash the economy with his trade policies, and expects the Fed to bail him out by lowering interest rates with unknown consequences? Is that about right?

We wouldn’t be in this mess if the last 3 previous Presidents would have stepped in to stop China from getting out of hand.

Meanwhile, China just slapped more tariffs on US goods. Thank goodness winning trade wars is as easy as, say, not bankrupting casinos.

So liberals are quite content with the status quo concerning the business practices of China.

-2 ( +0 / -2 )

"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"

My only question is, how the hell did Trump end up as president?

1 ( +1 / -0 )

"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"

Mr President, our bigger enemy is your 2016 and 2020 Shadow Campaign Chairman and business partner, Vladimir Putin...

But we know you are so compromised by him that you can never admit it...

1 ( +1 / -0 )

Trump is starting to remind me of the snarky Martian boss in that movie Mars Attacks. It's like he wants to vaporize anyone or anything he doesn't like.

1 ( +1 / -0 )

Federal Reserve 

There's nothing federal about the Federal Reserve.

-1 ( +0 / -1 )

Federal Reserve 

There's nothing federal about the Federal Reserve.

What do you mean? Your boy picked Powell and said this about him;

“If we are to sustain all this progress, our economy requires sound monetary policy and prudent oversight,” Trump said as Powell looked on. “We need strong and steady leadership at the U.S. Federal Reserve ... He will provide exactly that.”

Another flip-flop? Donnie "Simone Biles" Trump....

1 ( +1 / -0 )

Obama got us out of the Lehman shock mess, and now Trump threatens to get us into another recession, and he wants the Fed to bail him out? No way, Donnie. You better learn to clean up your own messes.

Oh, and by the way, calling people names and throwing tantrums don't even work for little kids, so don't go doing it yourself.

1 ( +1 / -0 )

President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell linked the trade war with China to risks to the U.S. economy

Ummm..... everybody knows the trade war with China is a risk to the US economy

What's there to disagree in that statement?

0 ( +0 / -0 )

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