The Fed: Trump says he’s ‘not happy’ with Fed raising interest rates

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President Donald Trump introducing his nominee for the chairman of the Federal Reserve Jerome Powell during a press event in the Rose Garden at the White House.

President Donald Trump on Thursday said he’s not happy with the raising of interest rates by the Federal Reserve and suggested the central bank is working at cross purposes with his administration’s economic program.

In an interview published on CNBC, Trump said he wasn’t thrilled with the Fed’s rate hikes — despite calling Jerome Powell, whom he picked to replace Janet Yellen, a “good man” — and said he didn’t care that he was breaking a precedent under which presidents do not comment on the Fed so as to safeguard its independence.

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