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Oct. 23, 2018, 9:14 p.m. EDT

Trump says Fed Chairman Powell ‘almost looks like he’s happy raising interest rates’

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By Michael C. Bender, Rebecca Ballhaus, Peter Nicholas and Alex Leary


Reuters
President Donald Trump.

President Trump escalated his attacks on Federal Reserve Chairman Jerome Powell, saying the head of the nation’s central bank threatens U.S. economic growth and appears to enjoy raising interest rates.

In an interview Tuesday with the Wall Street Journal, Trump acknowledged the independence the Fed has long enjoyed in setting economic policy, while also making clear he was intentionally sending a direct message to Powell that he wanted lower interest rates.

“Every time we do something great, he raises the interest rates,” Trump said, adding that Mr. Powell “almost looks like he’s happy raising interest rates.” The president declined to elaborate, and a spokeswoman for the Fed declined to comment.

Trump said it was “too early to say, but maybe” he regrets nominating Powell.

An expanded version of this report appears on wsj.com.

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