Top

The dollar is falling after Trump slammed the Fed again

August 21, 2018

LONDON — The dollar is falling against the pound and euro on Tuesday morning after US President Donald Trump publicly criticised the Federal Reserve for raising interest rates.

Trump said in an interview with Reuters on Monday that he was “not thrilled” by Fed chairman Jerome Powell’s decision to raise interest rates and would continue to criticize the Fed if interest rate hikes continued. It followed reports earlier in the day that Trump had criticised Powell at a private GOP fundraiser.

Trump has attacked the Fed for raising rates in the past. The latest remarks have hurt the dollar as investors’ expectations of future rate hikes have now been dampened.

Read More on Business Insider