Trump on Thursday fired a new broadside against the Federal Reserve under Chairman Jerome Powell, blaming the central bank for the economy's failure to exceed 4 percent economic growth last year
President Donald Trump on Thursday fired a new broadside against the Federal Reserve under Chairman Jerome Powell, blaming the central bank for the economy's failure to exceed 4 percent economic growth last year.
The economy expanded more quickly last year thanks to tax cuts and increased government spending, but it has not grown at a 4 percent annual rate since 2000.The 2020 Election. The New Congress. The Mueller Investigation. Be in the Know.By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time.
The president said he didn’t know if his repeated criticism of the Fed had played a role in its decision to pause the rate hike campaign. Powell has repeatedly insisted that Trump's criticism has played no role in the central bank's policy making decisions, highlighting the importance of the Fed's independence from short-term political considerations.
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