Trump: The Fed did not support my deals

28 Nov 2018 02:13 PM

US President Donald Trump on slammed the Fed chairman, saying he was "not at all pleased" with his choice of Jerome Powell.

The Federal Reserve Chairman has overseen three interest rates hikes this year and in an interview with The Washington Post, Trump said the Fed was "very wrong".

"They are making a mistake because I have an intuition, and sometimes I believe it than I do from anyone else," the president said.

Trump chose Powell to head the Fed at the beginning of the year, but repeatedly attacked him to raise interest rates he says undermine his work to boost the US economy. "I am making deals and not giving support from the Federal Reserve," he said.

The Fed is expected to raise its key interest rate again in December to try to keep inflation out of the target range of 2 percent, amid a strong job market and an unemployment rate of 3.7 percent, the lowest in 50 years.

Powell and other officials have often played down the importance of the political attacks of Trump and say they have no impact on the political deliberations of the independent central bank.

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