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Donald Trump Urges Federal Reserve to Act After China Retaliates on Tariffs


Added 08-23-19 11:47:02am EST - “President Donald Trump again urged the Federal Reserve to act on Friday after China announced new tariffs.” - Breitbart.com

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Posted By TheNewsCommenter: From Breitbart.com: “Trump Urges Fed to Act After China Retaliates on Tariffs”. Below is an excerpt from the article.

Federal Reserve Chairman Jerome Powell will address several issues during a speech at the Jackson Hole Economic Policy Symposium on Friday morning in Wyoming.

China announced tariffs ranging from 5-10 percent on $75 billion U.S. goods which will be enacted on September 1 and December 15. They also plan to raise tariffs on United States cars to 25 percent. The new China tariffs are retaliatory after Trump announced a new 10 percent tariff on $300 billion of Chinese goods earlier this month.

Trump has repeatedly criticized the Federal Reserve for raising interest rates despite the ongoing trade fight with China and other countries lowering their interest rates.

“He did quantitative tightening. He shouldn’t have done that,” Trump said. “He raised interest rates too fast, too furious.”

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