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The Fed: Trump piles on Fed after Williams slip-up

Bloomberg News/Landov
President Donald Trump and Fed Chairman Jerome Powell in the White House Rose Garden.

President Donald Trump on Friday kicked the Federal Reserve when it was down by highlighting a communications snafu featuring New York Fed President John Williams late Thursday afternoon.

In his remarks and subsequent walk-back, Williams seemed initially to support aggressive easing, only to have a spokesman step up to downplay his comments.

In his speech, Williams argued that his research on the “zero lower bound” showed the Fed should act to cut interest rates at the first sign of illness and not wait for a disease to spread with benchmark interest rates low.

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