FX.co ★ Trump criticizes Fed for its gloomy economic forecast

The confrontation between US President Donald Trump and Fed Chairman Jerome Powell seems to never end. It has started from the moment they both took their positions in office. For some reason, Trump was sure that the world's largest financial regulator would be under his control after he won the election. However, it did not happen.

The Federal Reserve has always been and remains an independent reputable financial regulator. It inspires trust among all market participants and international organizations. These factors make the Fed the most authoritative financial body across the globe and the US dollar the world's main reserve currency. This is why the US regulator is so often under Trump's attacks as its tone usually differs from one’s in the White House.

Recently, Donald Trump has again renewed his pressure on the Fed after the regulator published the subdued economic forecast. Trump is sure that the Fed’s projections are "too pessimistic". He tweeted that "The Federal Reserve is wrong so often." Unlike the Fed, Trump declares that the third and fourth quarters of this year, and 2021 as a whole, are going to be ones of the best of all time. He is also confident that in the US there will be a medicine and a vaccine against the coronavirus very soon.