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White House shouldn’t raise interest rates

Just two days before the Federal Reserve is expected to raise interest rates for a fourth time this year, U.S. President Donald Trump and his top trade adviser on Monday ratcheted up their criticism of the central bank’s monetary tightening, Reuters reported.

White House shouldn’t raise interest rates

White House shouldn’t raise interest rates

STEPANAKERT,  DECEMBER 18, ARTSAKHPRESS: “It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!” Trump wrote in an early morning tweet.

A few hours later, White House trade adviser Peter Navarro amplified that theme, calling the Fed “crazy” for having signaled, as it did in September, that it would continue to raise rates next year.

“The reason why the Fed shouldn’t raise interest rates on Wednesday is not because the economy’s slowing down, but because the economy’s growing without inflation,” Navarro told CNBC television. “I think what the Fed should do, is simply do what it says it’s going to do, which is look at the data ... rather than just saying you’re going to raise rates three times in the next year – that was crazy. Look at the data.”


     

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