>> The US Federal Reserve on Wednesday is expected to raise interest rates for the fourth time this year, and US President Donald Trump is fuming about the forecast, and lashing out at the Fed's chairman, Jerome Powell. Trump on Twitter cautioning the Feds board not to make yet another mistake.
US Market Senator Dan Burns.>> He's clearly not happy that the Federal Reserve has ban raising interest rates. He thinks that it's really spoiling what he views to be his handiwork of fast growing economy.>> I think the Fed is out of control.>> He's been very vocal in criticizing the Fed.
Of course, most people point to the fact that this is his chairman. Now, Jerome Powell was appointed by Donald Trump personally.>> Congratulations Jim.>> But he's recently said he's very disappointed in that decision and regrets it.>> The US central bank has been gradually raising interest rates since December 2015.
The rate hikes begin after a prolonged period of near zero interest in the wake of the financial crisis and as the US economy slowly recovered.>> As the economy has steadily gained strength, the Fed has being gradually returning interest rates closer to levels that are normal in a healthy economy.
>> But economist and investors are starting to see new headwinds on the horizon.>> Year over year, we're looking at a 3% increase probably for the whole year and GDP in 2018, that's gonna throttle back to somewhere on the twos, maybe even less than that. Next year, when you're talking about a $20 trillion economy, percentage point in growth rate makes a real difference.
>> Many economists expect the Fed to continue to raise rates next year, but at a slower pace.