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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Trump accuses Europe and China of manipulating the exchange rate

    Rocky
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    • Post n°1

    Trump accuses Europe and China of manipulating the exchange rate Empty Trump accuses Europe and China of manipulating the exchange rate

    Post by Rocky Wed 22 Aug 2018, 3:29 am


    [size=32]Trump accuses Europe and China of manipulating the exchange rate

    - 35 Minutes Ago
    [/size]
    Trump accuses Europe and China of manipulating the exchange rate %D8%AA%D8%B1%D8%A7%D9%85%D8%A8-%D9%8A%D8%AA%D9%87%D9%85-%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D8%A7-%D9%88%D8%A7%D9%84%D8%B5%D9%8A%D9%86-%D8%A8%D8%A7%D9%84%D8%AA%D9%84%D8%A7%D8%B9%D8%A8-%D8%A8%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%B5%D8%B1%D9%81-341x341

    In recent days, US President Donald Trump has criticized US Federal Reserve Chairman Jerome Powell for months in office and accused him of complicating his work by raising interest rates.
    Trump repeated these criticisms in an interview with Reuters, in which he refused to confirm his support for the independence of the central bank institution, a position that could be a concern for financial markets. "I'm not very happy about the rate hike, and I'm not happy about it," he said.
    Asked whether he supported the independence of the federal reserve, Trump said: "I believe in a federal reserve that does what is right for the country."
    Trump also accused the EU and China of manipulating their currencies, saying Beijing was weakening the yuan to ease the impact of US tariffs.
    After the comments, the dollar recorded a decline in Asia.
    At a dinner to raise money on Friday, Trump said he expected Powell to be "a man who likes money", suggesting he was disappointed by the increase in interest rates. Participants at the ceremony, quoted by The Wall Street Journal and Bloomberg, News.
    Trump said about a month ago that he was "not very happy" with the decision of the Federal Reserve to raise interest rates.
    With the US economy improving, the Fed has raised its benchmark interest rate seven times since December 2015, two times this year under its current boss, Jerome Powell. It is expected to raise rates again twice in 2018.
    Powell said in a radio interview in mid-July that he was not interested in the pressure on him to change his policy. "We do not give political considerations any attention," he said. "No one in the administration told me anything that could raise my concern about this," he said.
    Last February, Trump was named head of the federal reserve after he refused to stay for a second term, Janet Yellen, who criticized him during his campaign for the 2016 election. He accused her of keeping interest rates low to support his opponents.
    Normally, American politicians do not address the Federal Reserve policy because it could raise concerns about the central bank's failure to curb inflation. But Trump's management is out of the ordinary.
    Carl Hilling told AFP that Trump's criticism of the Federal Reserve "has aroused great interest" but has not actually moved the stock and bond markets.
    "So far, people do not think that will change the federal reserve policy, at least at its meeting in September," he said.
    But David Gilmore, an analyst at the Foreign Exchange Analytics Center, said Trump's criticism was "certainly a factor" on the exchange markets. "But I do not think Powell will be affected."
    The dollar index fell slightly after the Wall Street Journal and Bloomberg published their articles, but the decline was even greater with the release of the Reuters interview.
    Powell explained the reasons for the policy pursued by the Federal Reserve since June when the rise in the key interest rate came into effect.
    "We believe that returning to normal interest rates as the economy improves is the best way for the federal reserve to help a sustainable environment in which families and businesses can thrive," he said.
    As interest rates rose, the dollar rose as investors pumped money into the country in pursuit of high returns.
    This makes US exports more expensive and imports cheaper and could lead to an increase in the US trade deficit, in contrast to Trump's pursuit of his trade policies, in which he imposed tens of millions of dollars on Chinese goods.
    But these trade policies, which will affect Chinese products worth $ 50 billion on Thursday, as well as aluminum and steel, weaken the Chinese currency.
    Since June, the renminbi has fallen 7 percent to 6.85 yuan against the dollar, its lowest level since May 2017.


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