As markets await an expected interest rate hike following a meeting of Federal Reserve policymakers this week, Donald Trump is continuing to weigh in on monetary policy.
In a message addressing the Fed via Twitter, Trump said it is “incredible” that policymakers would even consider a hike at this point.
It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!
— Donald J. Trump (@realDonaldTrump) December 17, 2018
His comments come as the stock market continues its downward spiral, and amid speculation that benchmarks will soon be in bear market territory.
Despite an overwhelming consensus view that the Fed will raise rates by 25bp on Wednesday, there is growing concern regarding economic headwinds, including persistent trade tensions and slowing economies in Europe and China.
Trump’s habit of commenting on monetary policy has been a theme of his presidency since he took office, and was even credited by some with helping to pressure Fed chair Jerome Powell to sound a more dovish tone in a recent statement.
Bloomberg has put together a comprehensive timeline of Trump’s history of weighing in on interest rate policy.