Trump asserts Fed is ‘only’ problem for economy, likens Powell to ‘a golfer who can’t putt’

President Trump on Wednesday lashed out at Federal Reserve Chairman Jerome Powell and the news media about the state of the economy, the latest effort targeting two of his favorite scapegoats amid warning signs of a potential recession.

The president claimed Powell has held back the U.S. economy and has made it more difficult to compete with other countries, likening the central bank’s leader to a “golfer who can’t putt.” Trump nominated Powell for the Fed in 2017 but has repeatedly criticized him over his handling of interest rates.{mosads}

“Doing great with China and other Trade Deals. The only problem we have is Jay Powell and the Fed. He’s like a golfer who can’t putt, has no touch,” Trump tweeted. “Big U.S. growth if he does the right thing, BIG CUT — but don’t count on him! So far he has called it wrong, and only let us down.”

Trump asserted that the U.S. should lower its interest rates below that of other countries.

The president has repeatedly pushed for lower interest rates from the Fed, but has in recent days called for a full percentage point cut over a period of time. Such a move is typically made to jumpstart a slowing economy.

Trump has insisted that the U.S. economic outlook remains strong and dismissed those who point to indicators suggesting otherwise as naysayers, while simultaneously floating strategies to provide a boost to the economy.

Trump on Tuesday said he was considering a payroll tax cut, another move that would boost the economy in the face of a downturn, though he insisted it would not be a response to signs of a recession.

On Wednesday morning, he again accused the press of attempting to push a narrative of a recession.

“The Fake News LameStream Media is doing everything possible the ‘create’ a U.S. recession, even though the numbers & facts are working totally in the opposite direction,” Trump tweeted. “They would be willing to hurt many people, but that doesn’t matter to them.”

Trump last week similarly accused the “fake news” of attempting to crash the U.S. economy to hurt his reelection chances.

The president and his allies have all accused the press of being too pessimistic about the economy as news outlets report on drops in the stock market, a yield curve inversion that signaled trouble in the bond market and Trump’s ongoing trade war with China.

Tags China Donald Trump economy Federal Reserve media Trade

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