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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
>> No, no my biggest threat is the Fed.>> Yet another attack on the Federal Reserve from President Trump.>> The Fed is raising rates too fast.>> In a Fox Business interview released Tuesday the President expressed his frustration with the nation's Central Bank. And its leader Jerome Powell, who he appointed last year.
00:00:21
>> I'm not happy with what he's doing because it's going too fast, because you looked at the last inflation numbers, they're very low.>> His criticism is the latest in his beef with the Fed.>> I think the Fed has gone crazy.>> Going after the Central Bank twice last week.
00:00:36
Reuters Fed correspondent, Jonathan Spicer.>> Well, the timing of this hectoring from Trump is interesting. It comes just after Fed Chair Powell laid a very strong case for continuing with rate hikes. He said the outlook is very strong, and it's not too good to be true. This is obviously something that Trump wants to talk about.
00:00:56
That people, the Republicans want to talk about going into the midterm elections. And the hectoring began just as the market started sharply selling off. So you get the sense almost that the President is looking for a bit of a hedge, maybe a scapegoat, just in case this carries on.
00:01:11
>> Criticizing the Fed is rare from a sitting President, because the Central Bank is supposed to remain immune to political pressure. The Fed has raised rates three times this year, and is expected to hike rates one more time before the end of the year. But while the President has called the Fed crazy, loco, and too cute, he clarified in the interview that he has no plans to oust Powell.
00:01:36
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