Trump attacks pose new test for Fed chief
By Sylvan Lane
President Trump’s criticism of the Federal Reserve is posing a challenge for Chairman Jerome Powell as he attempts to navigate the economy through potentially turbulent waters ahead. Trump has publicly bashed Powell for raising interest rates as unemployment lingers near record lows and U.S. economic growth picks up at a higher rate. The president worries the Fed’s gradual rate hikes will hinder the economy as he pushes for new trade terms with economic partners. …“We’ve had periods in the past when there were conspiracy theories about black helicopters hovering over the Fed, sending it secret messages about how to destroy the U.S. and make Wall Street rich,” said Karen Petrou, managing partner at Federal Financial Analytics. “It’s always got a challenge to prove its political legitimacy.”