President Donald Trump said on Thursday that he’s “not thrilled” with the Federal Reserve for raising interest rates.
Breaking with tradition to avoid criticizing the Fed, Trump told CNBC he’s worried that the central bank’s policies will cancel out his efforts to speed up the economy.
“I don’t really — I am not happy about it,” Trump said in excerpts released by the network.
He also said that higher interest rates will strengthen the US dollar too much, putting the United States at a “disadvantage” while central banks in Europe and Japan keep rates low. Trump complained that China’s currency is “dropping like a rock.”
“I don’t like all of this work that we’re putting into the economy and then I see rates going up,” Trump said.
The US dollar lost ground against rival currencies following the comments.
Even though he’s frustrated, Trump said he’s “letting them do what they feel is best.” He also called Jerome Powell, whom Trump nominated to lead the Fed, a “very good man.”