Trump: The Federal Reserve is a ‘Much Bigger Problem Than China’
Federal Reserve’s policies are far more dangerous to the U.S. economy
President Donald Trump has stated he believes the Federal Reserve’s policies are far more dangerous to the U.S. economy than the current trade war with China.
“I think the Fed is a much bigger problem than China," Trump told the Washington Post on Tuesday.
Trump continued that he was “not even a little bit happy” with Fed Chairman Jay Powell, whom he elected last year.
Under Powell’s leadership, the federal reserve hiked interest rates steady as the central bank sought to balance promoting maximum employment with managing inflation.
The decision has prompted criticisms from Trump, who wants the Fed to concentrate on economic growth
“They’re making a mistake because I have a gut, and my gut tells me more sometimes than anybody else’s brain can ever tell me," Trump said.
In July, Neon Nettle reported the President had made moves to gain full control of the Rothschild controlled Federal Reserve to eliminate the crippling regulations holding the country back for so many years.
The Federal Reserve has been a ball on a chain on the American public, creating debt and stringent regulation on the nation.
Trump claims the Federal Reserve's rising interest rates and slowing the growth within the money supply is hindering the growth of the American economy.
According to CNBC: After these two are put on the Fed’s board, the president will then nominate two more to follow them
In essence, it is possible that six of the seven Board members will be put in place by Trump.
The Federal Open Market Committee has 12 members and sets the nation’s monetary policy.
Seven of the 12 are the members of the Board of Governors.
Five additional are Federal Reserve district bank, presidents
.Other than the head of the Fed bank in New York, who was chosen by the president, the other four can only take their positions as district bank presidents if the board in Washington agrees to their hiring.