President Trump lashed out at the Fed ahead of its July meeting, criticizing it for what he sees as overly restrictive interest rates.
will reveal its latest decision on whether to adjust interest rates at 2 p.m. ET Wednesday; Powell will host a press conference at 2:30 p.m. ET following the release on Wednesday. Despite above-trend economic growth and low unemployment, investors widely expect the central bank toHigher interest rates make it more expensive for businesses and individuals to borrow money, and can be used by the Fed to curb frothy economic activity and inflation.
Trump has in recent months targeted Powell for his apparent reluctance to reduce rates, saying last year that he'shis Fed nominee and thinks the central bank is "way off base" with its monetary policy. "The problem I have is with the Fed. The Fed is going wild. I mean, I don't know what their problem is that they are raising interest rates and it's ridiculous," Trump said in October. "The problem [causing the market drop] in my opinion is Treasury and the Fed. The Fed is going loco and there's no reason for them to do it. I'm not happy about it."because of widespread losses in the stock market in the last three months of 2018.
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