Axar.az
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24 August 2019


Fed remains a target as the economy falls for Trump

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It has become a jarring and frequent contradiction. President Donald Trump blames the Federal Reserve for putting the U.S. economy at risk while data shows an economy in “reasonably good” shape, as the head of the central bank recently said.

Axar.az reports citing Reuters that behind this confusing dance between a norm-breaking Republican president and a stick-to-its-knitting Fed lies a dilemma for Trump.

“Reasonably good” is not what Trump promised to deliver during his 2016 campaign, and at this point he heads into a reelection year short of the key economic goals he set and worried a recession could undermine his bid for a second term.

Growth is ebbing and well below the 3% annual rate he said his administration would hit; the trade deficit has widened and there is no sign of the “easy” victory he said would come in a trade war with China; far from the surge in investment he promised would follow a corporate tax cut, business capital spending of late has been a drag on growth overall.

When rates remained low through President Barack Obama’s reelection campaign and second term, Trump said the Fed had “become very political.” Advisers familiar with his thinking say he now expects the same treatment, even if the economy is in a different place.

Date
2019.08.12 / 17:01
Author
Axar.az
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