Trump Says Federal Reserve 'Doesn't Know What It's Doing'

W300

U.S. President Donald Trump on Friday lobbed another attack on the Federal Reserve, accusing it of incompetence for failing to stimulate the economy.

The Fed "doesn't know what it's doing," he told reporters at the White House.

Wall Street stocks were lower on Friday morning, with investors believing strong June jobs data could make the Fed less likely to cut interest rates this month.

Comments 1
Thumb chrisrushlau over 4 years

In Germany, saying that the central bank doesn't know what it is doing is a capital offense, the only capital offense remaining on the books after Germany generally banned the death penalty in 1944.
We know the risk of politicized judges, but who has the answer for that except to say if the rest of the government is bandits you can't expect the judges to go against the grain. So for central bank administration the same rule applies. Trump has to take the aggression out of the whole federal apparatus, aggression which has been built up during a hundred years of imperialism.