Trump complains about Fed interest rates again

12 Juin, 2019, 19:27 | Auteur: Auguste Feret
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Investors increasingly expect the Fed to cut rates amid signs the USA and world economies are decelerating. "As such, financial markets will see little reason for the Federal Reserve to hold back from rate cuts in coming months to combat the perceived threat of a slowdown caused by intensifying trade tensions", says James Knightley, chief worldwide economist at ING.

"The view that the dip in core inflation is transitory - a view that both we and Fed Chairman Powell have held to - is coming under pressure", RDQ Economics said in a research note. He expects the central bank to lower rates by a quarter percentage point in September and December, even with the US immigration deal with Mexico that forestalled the threat of USA import tariffs on Mexican goods.

In a separate tweet, Trump called low inflation a "beautiful thing". "Further escalation of the US-China trade dispute would increase the likelihood of a pre-emptive move from the Fed".

Instead, economists say, policy makers will probably revamp their post-meeting statement to indicate their openness to easing policy, perhaps as soon as the July 30-31 gathering.

U.S. markets witnessed good growth which accelerated higher due to comments by Jerome Powell, Chairman of Federal Reserve who stated that market and trade developments were being closely monitored by Central Bank and they will act appropriately to sustain expansion.

Gold prices dipped as investors booked profits following robust gains over the past weeks, and demand for safe-haven bets waned due to hopes for a U.S. Rupkey has also affirmed that economic data does not show any signs of recession which would prompt Federal Bank to reduce rates.

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Trump has frequently criticized the Fed - and Jerome Powell, whom he nominated, - for what he perceives as too-tight monetary policy. Others expect the rate cut to happen in the September meeting. That has fuelled expectations of USA rate cuts, a shift from a few months. "But we're not in a tranquil environment" even though Trump dropped his threatened tariffs on imports from Mexico. And while the tension between Mexico and America has eased, concern about the trade fight between the US and China continues to weigh on investor confidence.

US crude rose 0.69% to $53.63 per barrel. "With limited ammunition they want to come in big and make those bullets count".

Policymakers at the US central bank voted to hike the benchmark federal funds rate four times in 2018, with the current range between 2.25 percent and 2.5 percent.

"Today's inflation report keeps the Fed's options open".

Those fears have grown as recent data have pointed to a global economic slowdown. Mr. Trump had been requesting the bank to reduce rates for several months now to stimulate United States economy.

But that's a risk it seems willing to take. The index for all other items minus food and energy increased 0.1 percent, the report said.

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