The only problem with the U.S. economy is the Federal Reserve central bank, President Trump said Monday.

“The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!” he tweeted.

Trump has been critical of the Fed since it began hiking interest rates and shrinking its balance sheet, resulting in stock market corrections that have wiped out all the gains for 2018.

“I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more illiquid than it already is. Stop with the 50 B’s. Feel the market, don’t just go by meaningless numbers. Good luck!” he tweeted last week.

Treasury Secretary Steven Mnuchin spoke with the CEOs of America’s six largest banks, seeking reassurance that the economy can handle the Fed’s tightening policies.

Mnuchin also spoke with banking regulators from the Fed, FDIC and SEC on Monday, who assured him that the market was experiencing “nothing out of the ordinary.”

But as economist Peter Schiff noted, the Fed will only continue raising interest rates until the bubble bursts and the economy plunges into recession.

Related Articles