Fed head safe, says angry Trump
US President Donald Trump has renewed his attack on the nation’s central bank, saying it is “out of control”.
But Mr Trump said he did not have any plans to dismiss the chair of the Federal Reserve, Jerome Powell.
Mr Trump blamed the Fed for the global stock rout this week that has unfolded amid concerns about rising interest rates.
“It is a correction that, I think, it is caused by the Federal Reserve with interest rates,” Mr Trump told reporters at the White House.
“I think the Fed is out of control.”
Mr Trump said he understood the economy better than the Fed.
“I think I know about it better than they do,” he said.
“I think the Fed is far too stringent, and they’re making a mistake, and it’s not right.”
However, asked about Mr Powell’s future, Mr Trump said, “I’m not going to fire him”.
Mr Trump named Mr Powell to lead the central bank but can only fire him for cause.
Earlier in the day, he told the US show Fox & Friends the central bank was “making a big mistake” by being “too aggressive” in raising rates.