Here we go again...
After roiling stock markets in Asia and Europe last night when he blamed the longest stock-market losing streak of his presidency on the Federal Reserve and its "crazy" interest rate hikes, President Trump again lit into the central bank in a Fox News interview Thursday morning where he said the Fed has gotten "a little too cute" with its interest rate hikes. "It's ridiculous what they're doing," he added.
US Pres Trump: Federal Reserve Is Getting A Little Bit Too Cute – Fox— LiveSquawk (@LiveSquawk) October 11, 2018
He added that he's "paying high interest rates because of the Fed" and that Powell & Co. are "making a big mistake" and that he'd like the Fed to "not be so aggressive."
BREAKING: Trump says Fed 'making a big mistake' by being too aggressive pic.twitter.com/Iro7MQXXN9— AFP news agency (@AFP) October 11, 2018
But Trump quickly turned his attacks on the Obama Administration, accusing Democrats of "having it easy" and insisting that the economy is still doing "great" because "we have more people working in the US today than at any time in the history of our country" (though he did say he could "work with the Democrats" on infrastructure spending).
Turning to his trade war with China (a war that markets have finally acknowledged), Trump said his protectionist policies have hurt China, but added that "I have a lot more to do."
As Trump ramps up his attacks on the central bank, we imagine Powell is convening a meeting of the PPT as we speak...
Another 2% down in spoos and Powell can start putting his coffee cups and pencils in a cardboard box— Not Jim Cramer (@Not_Jim_Cramer) October 10, 2018
Here's a roundup of headlines from the interview (where Trump also claimed that being president has cost him "between $2 billion and $3 billion).
*TRUMP SAYS TARIFFS ON CHINA ARE HAVING BIG IMPACT
*TRUMP SAYS FED MAKING BIG MISTAKE BY BEING TOO AGGRESSIVE<.p>
*TRUMP SAYS FED IS GETTING A BIT `TOO CUTE'
*TRUMP SAYS HE COULD WORK WITH DEMOCRATS ON INFRASTRUCTURE
*TRUMP SAYS BEING PRESIDENT HAS COST HIM $2-3 BILLION
*TRUMP SAYS HE'D OVERRULE SESSIONS ON PRISON REFORM IF NEEDED