Trump accused the authorities of China and the EU in the manipulation of their own currency :: Economy :: RBC

The authorities of the EU manipulating the Euro, said the President of the United States. The same thing, in his opinion, make in China with the yuan. Previously, trump has accused the EU and China in cutting interest rates at the time, as the States increase

Donald Trump

(Photo: Carlos Barria / Reuters)

The President of the United States Donald trump is reacting to the decision of the appointed head of the Federal reserve system (FRS) Jerome Powell to gradually raise the benchmark interest rate, said that he was “not happy” from such ideas. The American leader also criticized China and EU authorities, which, in his opinion, manipulating its own currency. This view trump expressed in an interview with Reuters.

“I’m not enthusiastic about raising interest rates, no, I’m not happy,” said the politician, adding that the fed needs to be more accommodating.

Trump has appointed Powell to head the Federal reserve in 2017. Prior to that, he held the position of member of the Board of governors of the Federal reserve system of the United States. On a post of the Chairman of the Federal reserve, Powell was replaced by Democrat Janet Yellen. After that the us Central Bank has twice raised the base rate. The last time that the fed’s decision adopted in June. Then the base rate was increased to 1.75-2%.

According to The Wall Street Journal (WSJ), the end of the year, the Federal reserve is going to raise rates two more times. According to the regulator, next year it has to happen three more times. As notes the edition with reference to sources in the White house, advisers to trump these ideas cause for concern. In their view, by 2020 economic growth in the United States needs to slow down, therefore the country will be more difficult to create new jobs. So Trump would be “very difficult to get re-elected in 2020,” for President, said one of the WSJ sources.

The President of the United States Reuters in an interview also expressed the view that China is manipulating with its own currency. “The same thing makes and the European Union with the Euro,” — said the American leader.

This is not the first time trump accuses authorities of EU and China in the manipulation of their own currencies. This is also the American leader wrote on his Twitter page on July 20. Then the President of the United States has also accused China and the EU countries in cutting interest rates, while its America, on the contrary, increases. Trump claimed that in this way they “take a great competitive advantage of the United States”. “As usual, unequal playing field,” said the head of state.

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