Trump escalates his attack on Fed: ‘My biggest threat’

Last week, Trump criticized the US central bank twice, saying it was raising interest rates so swiftly that it threatened the country's economic health.

"He is not going over there to tell them to change their plans or their strategy".

He also criticized the Fed last week after the stock market's selloff, telling reporters the central bank had "gone crazy" and is "out of control".

Policy makers at the Federal Reserve remain focused on gradually raising interest rates in response to strength in the USA economy and low unemployment, according to minutes of their September meeting released Wednesday.

Republican U.S. Representative Jeb Hensarling, who is set to retire as chairman of the House of Representatives Financial Services Committee that oversees the central bank, said Trump "clearly has his own style".

Last week, Trump criticized the Fed twice, saying it was restraining credit so swiftly that it threatened the country's economic health.

In an interview with Fox Business Network Tuesday, Trump continued his on-going criticism of the Fed for its interest rate increases, which he thinks are slowing the economy. "Because the Fed is raising rates too fast".

Past U.S. presidents have been reticent to criticize the central bank because its independence is seen as important for economic stability.

Trump appointed Powell but told Fox, "maybe it's right, maybe it's wrong".

Asked about his decision as president to replace Janet Yellen with Powell, Trump said: "Can I be honest, I'm not blaming anybody".

"Participants generally anticipated that further gradual increases in the target range for the federal funds rate would most likely be consistent with a sustained economic expansion, strong labor market conditions, and inflation near 2 percent over the medium term", the Fed's minutes said.

Trump said he doesn't speak with Chairman Jerome Powell because of the Fed's political independence but said.

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