Trump warns Fed against rate hike: ‘Feel the market,’ ignore ‘meaningless numbers’

President TrumpDonald John TrumpLiz Cheney: 'Send her back' chant 'inappropriate' but not about race, gender Booker: Trump is 'worse than a racist' Top Democrat insists country hasn't moved on from Mueller MORE early Tuesday called on the Federal Reserve to refrain from further hiking interest rates, citing a Wall Street Journal op-ed detailing why such a move would be harmful.

“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.

ADVERTISEMENT

Trump was referring to a Journal op-ed published on Monday titled “Time for a Fed Pause,” which argued that Fed Chairman Jerome Powell should “ignore the politics, inside and outside the Fed, and follow the signals that suggest a prudent pause in raising rates.”

Trump has ripped the Fed in recent days for increasing interest rates three times so far this year. It is reportedly considering doing so for a fourth time before the end of 2018.

“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!” the president tweeted Monday.

While many Republicans approve of the Fed rate hikes, Trump has openly pushed the central bank to keep rates at low, stimulatory levels despite strong U.S. employment.

The president has also said low rates could help him negotiate in trade talks with other countries. The value of the U.S. dollar has climbed this year due in part to Fed rate hikes, and a stronger dollar makes American exports relatively more expensive to foreign buyers.