'My Biggest Threat Is The Fed'

'My Biggest Threat Is The Fed'

Speaking on Fox News on 16 October he said: "The Fed is raising rates too fast".

In minutes from last month's central bank rate-setting meeting, which unanimously agreed a third rise of the year, policymakers said further rate hikes "would most likely be consistent" with current economic indicators.

Senior Federal Reserve officials believe that interest rate hikes should continue until the economy slows down, according to minutes from the central bank's September meeting.

On the other hand, while risks were 'roughly balanced, ' some Fed members said instability in emerging economies - many of which are heavily indebted and vulnerable when U.S. rates rise - could 'spread more broadly through the global economy and financial markets'.

Last week, in a series of comments, Trump called the Fed "out of control", although he said in response to a question that he would not seek to oust Powell as chairman.

"My biggest threat is the Fed", Trump said Tuesday.

This would move United States interest rates slightly above what policymakers say is "neutral" - that is, neither slowing nor speeding the economy - but some participants said the Fed may need to go even further than that.

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A few participants expected rates would need to rise enough to modestly restrain economic growth, even as two others "indicated that they would not favor adopting a restrictive policy stance in the absence of clear signs of an overheating economy and rising inflation". But "I don't think the fact that he has publicly criticized the Fed, in any way shape or form, is going to impinge upon (its) independence", he told Reuters.

Despite his criticism of the Fed's policymaking, Trump's picks have been seen as representing the mainstream of economic thinking about how a central bank should manage interest rates.

Though the minutes did not refer to any of Trump's criticism, its message of further rate increases suggests that policymakers are not fazed by it.

Stronger US currency makes American exports more costly to foreign buyers, possibly weighing on growth, and makes many debt payments more costly for foreign borrowers. "My biggest threat is the Fed", he said.

The White House has put punishing tariffs on more than $250 billion in annual Chinese imports.

Higher rates can impact consumers by increasing borrowing costs, which have already ticked higher.

USA stock prices recovered some earlier losses but were still down for the day following the minutes.

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