President Donald Trump is criticizing his hand-picked Federal Reserve chief at a time when interest rates show few signs of hindering the U.S. economic expansion.
“I don't think there is any doubt that interest rates” at current levels are adding stimulus to the economy, said Mark Spindel, co-author of a 2017 book on the central bank. “Trump wants every form of stimulus possible—it's pedal-to-the-metal on fiscal policy, dollar policy, and monetary policy.”
Trump lashed out at the Fed for a second day on Thursday, blaming it for the worst U.S. stock market sell-off since February, though he said he won't fire Chairman Jerome Powell. “They're so tight. I think the Fed has gone crazy,” the president said Wednesday.
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