Hedging against Trump? Fed chair builds network of support on Capitol Hill

Trump Says He ‘Maybe’ Regrets Picking Fed's Powell WSJ Reports

Meanwhile, Powell and his colleagues have continued to raise interest rates, and rarely does a week goes by without several Fed policymakers giving public remarks about why rate hikes are necessary in the face of an economy with unemployment at a 49-year low and inflation near the Fed's 2-percent goal.

President Trump discusses the midterm elections, the Fed's interest rate hikes and why USA economic growth will help bring people together.

But for Donald Trump, who boasts of having "an economy vibrant", the monetary policy is now "the biggest risk", because according to him "the Fed raises the rates too soon". "I'm very unhappy with the Fed because Obama had zero interest rates".

However, Clarida said: "We have a very clear mandate, and the data shows up every month in terms of inflation and unemployment, and our job is to sustain what is a very healthy and robust economy".

The fed funds rate target is now 1.75 percent to 2 percent, and that is the rate closely tied to consumer debt, particularly credit cards, home equity lines and other adjustable-rate loans. Though critics have blamed Trump's comments for the sharp fall in U.S. stock markets, White House officials have dismissed them as a natural correction after long run of rising share prices.

Saudi Arabia Sends $3 Billion to Pakistan to Deal with Financial Crisis
Answering a question regarding Yemen , he said the government stance would remain the same and no soldiers would be sent there. Separately from the Saudi influx, Pakistan is also seeking an International Monetary Fund loan.

The criticism comes after Mr Trump last week called the Federal Reserve his "biggest threat" and said Powell was moving "too fast" in hiking rates.

And, even if subtly, the Fed is taking its own pots shots at Trump, noting that the general confidence in growth prospects also faces a few potential obstacles one fiscal policy stimulus starts to wear off.

"Every time we do something great, he raises the interest rates.he nearly looks like he's happy raising interest rates", Trump was reported as telling the Wall Street Journal. In August, in an interview with Reuters, he demanded the Fed help out on the economy.

Perhaps most significantly, President Richard Nixon replaced Martin with Arthur Burns, who caved in to White House pressure for low rates in what is widely regarded as a policy mistake that fed runaway inflation.

Speaking of the monetary policy, Clarida said he believed the Fed's monetary policy "remains accommodative".

"Like you step back in time": Scientists discover oldest intact shipwreck
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While The Federal Reserve Act-amended in 1935-says that the U.S. president can remove Fed governors who serve 14-year terms, it mentions nothing about the Fed chairman who serves for a four-year term. The rate hikes are also created to give it room to provide support for the economy whenever the next downturn arrives.

That will serve as "a tailwind for the economy, not a headwind", in conjunction with lower taxes, he said.

Powell was previously appointed to the Fed's Board of Governors by former President Barack Obama in December 2011.

His message, as well as those of other Fed officials and the central bank's recently released meeting minutes "are really all saying the same thing - that the Fed is going to continue with gradual rate hikes to get the fed funds rate to neutral or higher", said Ward McCarthy, chief financial economist at Jefferies.

Raiders trade Amari Cooper to Cowboys for No. 1 pick
He's no Odell Beckham, but he does give the Cowboys a reliable weapon that can hurt the Eagles where they're most vulnerable. Despite having been to the Pro Bowl twice in his first two seasons, Cooper is considered to be a very inconsistent player.

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