U.S. President considers that the increase of Federal Reserve interest rate can negatively influence the results of his policy.
U.S. President Donald Trump called the increase of Federal Reserve interest rate as the major threat to successes of his Presidential term, he said during interview with Fox Business on Tuesday, October 16, Correspondent.net reports.
“The biggest threat is FRS: they raise rates too quickly, and they are too independent”, U.S. President stated.
He also noted that FRS, which functions as the central bank in U.S., is the independent structure and he has no leverages over it.
It should be reminded that in September, the Federal Reserve Service decided to increase the interest rate on federal loan funds from 2 to 2.25% per annum.
It is the third increase for 2018 – the previous were in March and June, and the fourth is expected in December.
Trump is confident that higher rates can affect the purchasing capacity of citizens.
As Correspondent.net reports, while delivering speech at UN General Assembly session, U.S. President announced about his “historic” successes of his administration.