Date: 5 days ago   Category: Finance

Trump criticized FRS for strong dollar — Rambler News Service


The U.S. President Donald Trump on the Twitter criticized the Federal Reserve System of the country for a high base interest rate. The statement was made in response to article of Bloomberg about influx of tourists to Europe. "It is connected with the fact that euro and other currencies are devaluated in relation to dollar that handicaps the USA. The interest rate of FRS is too high, in addition to ridiculous quantitative toughening! They do not understand at all!" — he wrote. The day before the president explained the discontent with the policy of FRS in CNBC interview. Trump criticized political independence of the regulator and emphasized that China, unlike the USA, devaluates the currency for years. "They devaluate the currency. For years. It gives them huge competitive advantage, and we do not have this advantage because we have a FRS which does not reduce interest rates" — Trump told. According to him, the policy of FRS is extremely destructive. Trump repeatedly accused FRS of inability to support economic growth, having said in 2018 that FRS is "much more serious problem" for the USA, than China.

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