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7/19/2018, 7:04 PM (Source: TeleTrader)
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Trump criticizes increasing US interest rates

United States President Donald Trump said on Thursday that he isn't happy with an increase in domestic interest rates. The Federal Reserve, the country's central bank, which is independent from the government by law, is determined to tighten policy gradually, saying the strategy keeps the economy from overheating while not stifling growth.

Speaking to CNBC, the president claimed the environment is putting the US in a "disadvantage" as the euro is falling and the Chinese yuan is "dropping like a rock." The EU is "making money easy" and the US has "for years" been "losing $150 billion dollars," he claimed and asserted the dollar is "rising."

"I put a very good man in the Fed. I don't necessarily agree with it – because he is raising interest rates... I'm not thrilled because, you know, we go up and every time... they want to raise rates again and I am not happy about it. But at the same time, I am letting them do what they feel is best," Trump stated and added the EU is not doing what the US is doing. Other major monetary authorities, including the European Central Bank, which is limited to the 19-member Eurozone, have held rates at historic lows and even in negative territory while the Fed has been hiking since December 2015.

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