Los Angeles Times

Trump escalates his criticism of Federal Reserve interest rate hikes

WASHINGTON - Before this week, it had been more than a quarter-century since a sitting U.S. president publicly pressured the independent Federal Reserve on interest rates.

On Friday, President Trump did it for the second day in a row.

In unprecedented back-to-back statements, Trump escalated his criticism of the nation's central bankers for, in his view, hurting the economy by continuing to inch up their benchmark rate in a process known as monetary policy tightening.

After saying Thursday in a CNBC interview excerpt that he was "not thrilled" by the Fed's recent rate increases, Trump took to Twitter on Friday morning to say the hikes were "taking away our big competitive edge" with China

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