President Donald Trump on Saturday renewed criticism of the Federal Reserve and said the US central bank's tight monetary policy was contributing to a strong dollar and hurting the United States' competitiveness.
“We have a gentleman that likes a very strong dollar at the Fed,” Trump said at the annual Conservative Political Action Conference in Oxon Hill, Maryland. “I want a strong dollar, but I want a dollar that's great for our country not a dollar that is so strong that it is prohibitive for us to be dealing with other nations.”
Trump, who has made the economy a key part of his political platform, has repeatedly criticized the Federal Reserve and its chairman, Jerome Powell, whom he appointed to head up the Fed, for raising interest rates.
The US central bank, after raising interest rates four times last year, has signaled recently that it will be “patient” before tightening monetary policy further, in a nod to rising concerns about the economic outlook amid financial markets volatility, slowing global growth and a trade war between the United States and China.