Jerome Powell, Donald Trump, President Trump discussed on Morning Edition
Trading involves significant risk of loss from, marketplace in New York I'm Sabrina short in for David Brancaccio. In an interview with Reuters Monday the president criticized. Well he criticized a lot of different things China the European. Union and not for the first time the Federal Reserve. Chair that he appointed Jerome Powell marketplace's Nancy Marshall genzer joins me now live from Washington Nancy what exactly did Trump say about Powell Well the president told Reuters he's quote not. Thrilled with the fed for raising interest rates Trump is afraid, that interest rate hikes will choke off growth but Powell says. He'll act independently. In an interview with marketplace just last month. Powell said he's not worried about political pressure I'm not, concerned. About it and I'll tell you why We, have a long tradition here of. Conducting policy in a particular way and that way is Independent of all political concerns now I is, it just me or do I not remember during the campaign President Trump criticized former. Fed chair Janet Yellen for for just this for keeping. Interest rates low you are right sobriety the. President accused Yellen of, creating a risky economic bubble here's, Trump in, a debate with Hillary Clinton during the presidential campaign we are in a big fat. Ugly bubble and we'd better be. Awfully careful and we have a fed that's doing political things this Janet Yellen of the fed but now Trump. Says he likes low interest rates and he's criticizing Powell for raising them. And. Just refreshes white why doesn't the fed just do what the president says in keep, rates low one of the. Fed's jobs is to keep inflation under control and the president's policies things, like the tax cuts Risk causing inflation. Plus. If interest rates fell again it would be easier to borrow money and people would, spend more driving up prices Marketplace's Nancy Marshall genzer thank you And you know when we talk actually about an economy, that's heating up or. Even overheating it may seem abstract but eventually these big trends do start to trickle down into. Reality and show up pretty, clearly and here is an. Example the price of used cars it. Hit a, record high, this summer in fact by July which is. Usually a slow month used, car prices had grown five point one percent from the previous year that's, according to recent data from Cox automotive marketplace's were not a sago. Has more on that at MC j. auto sales in Orlando salesman Pierre Augusto tells customers they've got more options. Than just new vehicles gently used, it's a, lot easier to finance I guess does used car sales peak and spring during tax season ended, the fall for back to school but June July, usually slow have, been busy to. According to Cox automotive chief economist Jonathan, smoke says in the car world the strong economy means. Higher interest rates and higher prices so more.