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Trump slams Fed Chair Powell, says he's 'not even a little bit happy' with him

Heidi Chung
Reporter
U.S. President Donald Trump speaks as Jerome Powell, governor of the U.S. Federal Reserve and Trump’s nominee as chairman of the Federal Reserve, left, listens during a nomination announcement in the Rose Garden of the White House in Washington, D.C., U.S., on Thursday, Nov. 2, 2017. (Photo: Andrew Harrer/Bloomberg)

President Trump slammed Federal Reserve Chairman Jerome Powell, again.

In a 20-minute interview with The Washington Post, the president took another jab at Powell and blamed the Fed for everything from the recent stock market performance to even General Motors (GM) production facility closures.

So far, I’m not even a little bit happy with my selection of Jay,” the president said in the interview. “Not even a little bit. And I’m not blaming anybody, but I’m just telling you I think that the Fed is way off-base with what they’re doing.” 

Trump nominated Powell for Fed Chair just over a year ago. But in recent months the president has been repeatedly expressing his discontent at Powell and the Fed, which has been tightening monetary policy in what’s been a growing economy with a historically low unemployment rate.

Back in September when the Fed raised interest rates, the president complained: “We are doing great as a country … Unfortunately they just raised interest rates a little bit because we are doing so well. I am not happy about that.” That was the Fed’s sixth interest rate hike since Trump became president. 

This most recent attack from President Trump comes ahead of both Powell’s speech on Wednesday at the Economic Club of New York and the closely-watched meeting next month, where the Fed is expected to raise interest rates once again.

Trump revives White House tradition of scapegoating the Fed

Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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