Trump says President Xi runs China’s central bank: 'He can do whatever he wants.'
the Federal Reserve on Monday for raising interest rates too quickly and giving the Chinese an upper hand in trade negotiations.
"They devalue their currency, they have for years: It's put them at a tremendous competitive advantage. And we don't have that advantage because we have a Fed that doesn't lower interest rates," Trump told CNBC's Joe Kernen on ". " "We should be entitled to have a fair playing field, but even without a fair playing field — because our Fed is very, very disruptive to us — even without a fair playing field we are winning.
"Don't forget: the head of the Fed in China is President Xi ... he can do whatever he wants," Trump said., whom he appointed as Fed chairman, and other central bank members for hiking interest rates four times in 2018, a policy that made borrowing more expensive for banks and businesses.
"It's more than just Jay Powell — we have people on the Fed that really weren't — they're not my people. But they certainly didn't listen to me because they made a big mistake: They raised interest rates far too fast," Trump told CNBC. "That's No. 1." "No. 2: they did quantitative tightening: They were taking in $50 billion a month — 50 billion a month. And they've now eased that, but it's still $25 billion a month, which is ridiculous. Now, China's doing just the opposite. They're pumping money in. So I'm winning, but I'm not winning on a level table," he said.
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