Trump Complains About His Fed Chair Pick

President Trump “said he expected Jerome Powell to be a cheap-money Fed chairman and lamented to wealthy Republican donors at a Hamptons fundraiser that his nominee instead raised interest rates,” Bloomberg reports.

“The Federal Reserve has raised rates five times since Trump took office, including twice this year under Powell. The president nominates the Fed’s chairman and other governors in Washington, but the agency is independent and historically frustrated presidents by raising interest rates without regard for politics.”