Trump's rant on interest rate rises depresses dollar

U.S. President Trump answers question during interview with Reuters in the Oval Office of the White House in Washington

"I'm not thrilled", Trump said in an interview with Reuters. Against the Swiss franc CHF=, the dollar weakened to its lowest since July 9, last at 0.987.

The benchmark USA interest rate, which plays a large role in setting borrowing costs for mortgages, credit cards, small businesses and auto loans, has roughly tripled since Trump was sworn into office a year ago.

"I take comfort from Trump's nominations so far", said James McCann, senior global economist for Aberdeen Standard Investments.

A day later, Dallas Fed President Robert Kaplan, who tends to align his views with those of Powell, released an essay that signaled he views another three or four rate hikes as "the best chance" for delivering continued economic growth, given the strength of the economy.

Trump has attacked the Fed for raising rates in the past.

The Fed has been carefully and gradually raising rates over the past several years to keep inflation in check and to prevent the economy from overheating.

Smoky haze to blanket Metro Vancouver today, tomorrow
It's the second time in a week smoke from wildfires has pushed the state's air quality into unsafe level. Authorities believe five of the six were sparked by lightning and the sixth by human activity.

Melania Trump laments cyber bullying
He said one in five children experience bullying, and that 16 per cent of children now are victims of cyberbullying. Monday marked the sixth Federal Partners in Bullying Prevention (FPBP) Cyberbullying Prevention Summit.

Strong quake jolts Indonesian island of Lombok
The hall had sustained damage in earlier quakes, said National Disaster Mitigation Agency spokesperson Sutopo Purwo Nugroho. Some of the devastation in North Lombok after the quake earlier this month. "They all ran to the street".

Presidents usually avoid criticizing the central bank, which is created to be independent from political interference.

Asked on Monday if he believed in the Fed's independence, Trump said: "I believe in the Fed doing what's good for the country."

"Forgetting his comments, adding fiscal stimulus this late in the cycle is. unusual, and probably makes the job more complicated for the Fed", he said. Two, comments like these will produce diminishing returns for the president.

Sen. Richard C. Shelby (R-Ala.), another member of the Banking Committee and its former chairman, said presidents often find themselves at "loggerheads with the Fed because they think that the Fed raising the cost of money, interest rates, will choke off the economy". Typically, the greatest influence a president has over the Fed is the appointment of governors.

Almost eight in 10 economists believe the Fed's interest rate policies are "about right", according to a survey released Monday by the National Association for Business Economics. "But I think you have to respect the independence of the Fed". Trump followed up those comments with further complaints on Twitter.

"I'm very concerned, especially given this very divisive and highly politicised environment, that bringing the Fed into that environment could complicate the Fed's communications [to the public], its support in the Congress and among the American people", said Donald L Kohn, who spent 40 years at the Fed and retired as its vice chairman in 2010.

Related news:

Hot News

isis-killer-beheading-video-story-top Air Quality Alert Issued For Northeast, Central And Southwest Minnesota
Aug 22, 2018 - 02:22
There should be "some" improvement to our air quality by late Wednesday, according to the National Weather Service . Many people in the greater Seattle area reported light ash falling on their cars Monday before the evening commute.

isis-killer-beheading-video-story-top Drake visited a young fan awaiting a heart transplant in Chicago
Aug 22, 2018 - 02:03
The 11-year-old underwent open heart surgery three weeks ago to connect a mechanical pump to support blood flow. In February, he gave a young student a $50,000 (£36,000) scholarship after reading one of her essays.

James Clapper Throws John Brennan Under the Bus
Aug 22, 2018 - 01:44
Former CIA Director John Brennan may seek legal action after the White House revoked his security clearance last week . I think John is subtle like a freight train, and he's going to say what's on his mind", Clapper said.

isis-killer-beheading-video-story-top IndyCar driver Wickens hospitalized after car spins into fence at Pocono raceway
Aug 22, 2018 - 01:44
Curt Cavin, vice-president of communications for IndyCar, said on the TV broadcast that Wickens was " awake and alert ". Hinchcliffe headed to the hospital to be with Wickens, who is a close friend and Schmidt Peterson Motorsports teammate.

isis-killer-beheading-video-story-top EPA unveils weaker alternative to Obama power plant rule
Aug 22, 2018 - 01:40
The AP obtained a copy of the summary, which asserts that the Obama-era plan exceeds the EPA's authority under the Clean Air Act. EPA acting Administrator Andrew Wheeler said the agency's plan will provide more clarity when it comes to regulations.

isis-killer-beheading-video-story-top United States special counsel says Papadopoulos should spend 6 months in prison
Aug 21, 2018 - 00:58
To make matters worse for Papadopoulos, the prosecutors say he has not provided significant help in their investigation. Papadopoulos said wrongly several times he had communicated with Mifsud before he joined the Trump campaign.

isis-killer-beheading-video-story-top Elon Musk says changing the way he (over)works is not an option
Aug 21, 2018 - 00:30
In his interview with the Times, Musk said he sacrificed family milestones in the race to meet Tesla production targets. Her description accompanying the open letter describes her as a "flat shoe advocate and sleep evangelist".

isis-killer-beheading-video-story-top British woman rescued 10 hours after falling off cruise ship in Croatia
Aug 21, 2018 - 00:28
She fell from the Norwegian Star cruise ship, about 95 kilometers off Croatia's coast shortly before midnight Saturday. Longstaff - who was found a mile from where she fell in - told Croatian television that she was "lucky to be alive".

isis-killer-beheading-video-story-top England facing defeat in third India Test after shocking collapse
Aug 20, 2018 - 02:57
While Kohli has managed a series-high 240 runs, the 29-year-old struggled with a back complaint during the second Test at Lord's. The good work of Rahul and Dhawan was taken forward by Indian skipper Virat Kohli and his deputy Ajinkya Rahane.

isis-killer-beheading-video-story-top NYT report: Trump counsel Don McGahn 'cooperated extensively' in Mueller probe
Aug 20, 2018 - 02:41
President Donald Trump as the president holds a cabinet meeting at the White House in Washington, U.S. The White House counsel also told Mueller's team about Trump's attempts to fire the Special Counsel.

isis-killer-beheading-video-story-top Could De Bruyne injury have quick Silva lining for City?
Aug 20, 2018 - 02:31
The documentary, entitled " All or Nothing: Manchester City ". was released on Friday. Aguero will go down as one of the Premier League's greatest strikers.

isis-killer-beheading-video-story-top Trump defends ex-aide Manafort as jury mulls over verdict
Aug 20, 2018 - 02:05
But you know what? On Friday, Trump issued a fresh defense of Manafort and called him a "very good person". The charges in D.C. could result in an even lengthier sentence than what Manafort faces in Virginia.

isis-killer-beheading-video-story-top Fortnite Android Beta - Game Not Available in Playstore
Aug 20, 2018 - 01:31
For newcomers or anyone looking to improve their chances of a victory, check out our collection of tips for Fortnite players . The hit game, which is now in its fifth season, is available on PC, Xbox One, PlayStation 4, iPhone and Nintendo Switch.

isis-killer-beheading-video-story-top New York University offers free tuition for all medical students
Aug 19, 2018 - 02:10
The NYU School of Medicine full-tuition scholarship was made possible thanks to "trustees, alumni, and friends", said Kenneth G. What's more, 21 percent of doctors graduating from a private school do so with over $300,000 of educational debt.

isis-killer-beheading-video-story-top Vatican finally breaks silence on sex abuse bombshell
Aug 19, 2018 - 01:34
Currently, the statute of limitations law allows victims of child sex abuse to come forward with criminal allegations until they are 50 years old.