'Not thrilled' with interest rate hikes

President Donald Trump speaks before signing an Executive Order that establishes a National Council for the American Worker during a ceremony in the East Room of the White House in Washington. Trump said he’s willing

'Not thrilled' with interest rate hikes

"I don't like all of this work that we're putting into the economy and then I see rates going up", he said, according to CNBC.

Global markets have remained generally calm in recent weeks and months despite the eruption of a full-blown U.S.

In a taped interview with the business channel CNBC, Trump said "I'm willing to go to 500", referring roughly to the $505.5 billion in goods imported past year from China.

Earlier this month, the U.S. imposed 25% tariffs on $34bn of Chinese imports.

After weeks of unproductive parleys, the USA early in July slapped 25 percent tariffs on about $ 34 billion of Chinese mechanical and technological products - evoking a swift response from China which said it would hit back equally. In response, Beijing vowed "firm and forceful measures".

Mr Trump has said before that he favours low interest rates, and dismissed concerns about his interference.

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"Now I'm just saying the same thing that I would have said as a private citizen", said Mr. Trump.

Mr Trump's comments come before the most recent round of United States tariffs has had time to take effect. China has responded in kind with tariffs on farm products, notably soybeans, as well as quintessential American goods such as bourbon and motorcycles, taking direct aim at Trump's base of support in farm states and blue collar regions of the country. The United States then disputed the retaliatory tariffs at the World Trade Organization on Monday, along with those the European Union, Canada, Mexico and Turkey imposed in response to new USA duties on steel and aluminum.

The dollar index, tracking it against six major currencies, fell 0.59 percent, with the euro up 0.57 percent to $1.1707.

The latest attack by Trump comes amid escalating trade disputes between the United States and its trading partners.

Trump warned in July that he was ready to impose import tariffs on another $ 300 bn. Earlier this year, he used national security as a justification for taxing imported steel and aluminum.

Benchmark 10-year USA notes last fell 12/32 in price to yield 2.8894 percent, from 2.847 percent late on Thursday.

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Earlier, he took a swipe at the Federal Reserve by writing on Twitter that the central bank's tightening monetary policy "hurts all that we have done" in economy.

The White House also attempted to assuage fears of the president pressuring the Fed immediately after Trump's comments were released.

Many companies in the USA are opposed to the administration's use of tariffs against China, saying they risk hurting business and the economy without being likely to change behaviour.

So Clinton said that the Fed's independence was one of the things that actually made the US economy look strong, according to Low. When it came to interest rates, Nixon told his advisers "we'll take inflation if necessary, but we can't take unemployment". Greenspan did lower rates 13 times over 1991-92, but slowed the pace of cuts in the latter year, much to the White House's annoyance. Its rate hikes are meant to prevent the economy from overheating and igniting high inflation.

The Fed hiked interest rates twice this year, and plans to raise them two more times by the end of 2018.

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