Economics
Trump Attacks the Weak Link Powell Can’t Ignore in Fed Rate Plan
- President questions why rates are rising when inflation is low
- Fed chair says inflation may not be best signal of overheating
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Donald Trump has attacked the soft underbelly of the Federal Reserve’s campaign to raise interest rates, exposing what Jerome Powell himself probably recognizes is a potential vulnerability.
Amid his recent avalanche of criticism, the president has repeatedly lambasted the Fed chairman and his colleagues for hiking rates when inflation isn’t a problem.