Trump on the Fed: The central bank is "my biggest threat"

OCTOBER 17, 2018 / 8:47 AM EDT / CBS/AP

President Donald Trump said the Federal Reserve is raising interest rates "too fast," calling the central bank "my biggest threat."

Mr. Trump said he doesn't speak with Chairman Jerome Powell because of the Fed's political independence but he said, "I'm not happy with what he's doing because it's going too fast" in raising rates at a time when inflation has remained relatively low.

Asked about his decision as president to replace Janet Yellen with Powell, Mr. Trump said: "Can I be honest, I'm not blaming anybody. I put him there and maybe it's right, maybe it's wrong but I put him there."

Mr. Trump made his comments in an interview with Fox Business Network's Trish Regan. Critics have expressed concern that his continual attacks on the Fed, which began in the summer, threaten its need to operate free of political pressure from the White House or elsewhere to properly manage interest rate policy.

Last week, in a series of comments, Mr. 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.

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Poster Comment:

This is not old news. Trump knows it is the central banks that are the real problem. Even Dave from the X22 Report is saying right now that central banking is on the way out.

Even Missouri and Oklahoma have recently introduced legislation to monetize precious metals and not charge taxes on the sales of precious metals such as gold and silver.