The Atlantic

The Last Apolitical Institution in Washington

President Trump keeps criticizing the Federal Reserve. The central bank keeps ignoring him.
Source: Carlos Barria / Reuters

This week, President Donald Trump took aim at the Federal Reserve. Again. “The Fed is going wild. I mean, I don’t know what their problem is, but they’re raising interest rates and it’s ridiculous,” he said after the markets posted steep and sudden drops. “The Fed is going loco, and there’s no reason for them to do it.”

The president was gesturing to the fact that the Federal Reserve has tightened monetary policy by raising interest rates three times this year, as was widely expected given a low unemployment rate and steady growth. The central: “It is a lot of safety, and it gives you a lot of margin.” But it might be forcing the markets and perhaps the whole economy into a correction, he implied.

You're reading a preview, sign up to read more.

More from The Atlantic

The Atlantic10 min readPolitics
The 2020 Congressional-Retirement Tracker
For the second consecutive election, more Republicans than Democrats are forgoing reelection, a potentially ominous sign for the GOP in 2020.
The Atlantic4 min read
How Ancient DNA Can Help Recast Colonial History
The people of pre-colonial Puerto Rico did not disappear entirely—a new study shows that the island’s residents still carry bits of their DNA.
The Atlantic3 min readPsychology
Back-to-School Night Is Hard for Single Parents
Susan Dynarski’s husband always took the lead at their kids’ school events, asking questions, getting updates, and advocating for their success. When Dynarski, whose job as a professor at the University of Michigan requires a lot of travel, wasn’t re