US President Donald Trump has criticized the Fed's course. "I'm not happy that he (Fed President Jerome Powell, commentary) raises interest rates No, I'm not happy," said Trump Monday in an interview with Reuters news agency. On the contrary, the Fed would stop it and "help him".
At the same time, Trump accused China and Europe of manipulating their currency. He does not expect much progress from talks with a Chinese trade delegation this week, he said in an interview. There is no timetable for ending the trade dispute between the United States and the People's Republic. Nonetheless, speculations on Wall Street continued to support the Wall Street branch on Monday.
The Fed has already raised interest rates twice this year. Most recently, in June, they increased the key rate for providing commercial banks with money to the current range of 1.75 to 2.0 percent. A new step is expected at the fairs in September. Trump had nominated Powell last year as the successor to Janet Yellen at the head of the Fed.
(APA / ag.)