President Donald Trump (left) and US Federal Reserve Governor Jerome Powell and Trump's Chair of the Federal Reserve Head to a Nomination Announcement in the White House Rose Garden in Washington, DC Thursday, November 2, 2017.
Saul Loeb | AFP | Getty Images
President Donald Trump said he never threatened to humiliate Federal Reserve Chairman Jerome Powell, although he claimed he was authorized.
"I never threatened to belittle him," Trump said in an interview with NBC's "Meet The Press," which aired on Sunday. "I could do that if I wanted, but I did not suggest it."
Trump continued to criticize the Federal Reserve for raising interest rates and said Chairman Powell had made a mistake.
"Obama had someone who kept interest rates very low," Trump said. "I had someone who raised interest rates very quickly ̵
The Federal Reserve kept interest rates constant on Wednesday, suggesting that there will be no interest rate cut in 2019. However, the central bank predicted one to two possible interest rate cuts by 2020.
Asked on Tuesday whether he or not wanted to demote Powell, Trump said, "Let's see what he's doing."
Bloomberg had reported that Trump had considered a downgrade of Powell in February, but White House economic adviser Larry Kudlow said the president is not considering such a move at this time.
"It's a six-month-old story," he told reporters. "It's supposed to have happened six months ago and it's not happening today, so I have nothing to say about it, it's what it is." react when Trump said he wanted to demote him.
"I think the law is clear that I have a four-year term and I fully intend to serve him," Powell said.
When asked if he should meet Trump's repeated criticism, the Fed Chairman said he does not do so. You must not discuss elected officials publicly or privately.
The Federal Reserve has raised interest rates seven times since Trump took office and originally announced two more rate hikes in 2019. The central bank turned around and took a more restrained stance after the raise In December, there was a riot of markets.
Trump repeatedly claimed that the stock market was higher and economic growth faster if the Fed had not raised interest rates.
In the same interview with "Meet The Press," Trump was asked if he believed that. The Fed's policy would jeopardize its chances of re-election.
"I think the economy is so strong that we will overcome it," said the president. "But I'm not satisfied with his actions, I do not think he did a good job."