US President Trump today complained that in revitalizing the national economy, the Federal Reserve Board (Fed) “does not do anything”, alluding to the chairman of the federation, Jerome Powell, is a China Equal enemy.
Before Trump’s remarks, China announced that it would impose a new round of tariffs on US imports, and Bauer’s highly anticipated speech, indicating that the Fed’s tools for dealing with a year-long trade war are limited.
Bauer said that the U.S. economy is still in a “favorable position” and that the Fed will “take appropriate action” to maintain the current economic expansion. There is almost no warning as to whether the Fed will cut interest rates again at the next meeting.
Trump’s tweet pointed out: “As in the past, the Fed did not do anything! It’s unbelievable that they don’t know what I’m doing, I’ll be able to speak, and I’ll announce what I’m doing soon.”
He described the Fed as “very weak” and said “My only question is who is our bigger enemy, Bauer or President Xi Jinping?”