techkenyot.com
techkenyot.com December 12, 2018


Fed ‘has gone crazy’ as it raises interest rates

11 October 2018, 02:52 | Hattie Nash

The Federal Reserve can likely stop raising US interest rates once they reach about 3 percent, as long as inflation remains around 2 percent and the economy is doing well, Chicago Federal Reserve President Charles Evans suggested on Wednesday.

On the market selloff on October 10, Trump said "actually, it's a correction that we've been waiting for for a long time, but I really disagree with what the Fed is doing". "But I really disagree with what the Fed is doing, OK?"

Melania Trump on #MeToo: Accusers Need to Show Evidence of Assault
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"Actually, it's a correction that we've been waiting for, for a long time", Trump said about the market selloff.

Trump has often pointed to stock market records set during his time in office as a measure of his success. "I just don't think it's necessary to go as fast". Officials expect to hike rates another quarter percentage-point by the end of this year and gradually continue to raise rates at least through 2019.

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Trump's comments echo his previous criticisms of recent months, which broke more than two decades of White House tradition of avoiding comments on monetary policy out of respect for the independence of the US central bank. "It's probably healthy. This will pass and the USA economy remains strong".

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