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Trump: "My Biggest Threat is the Fed"

Olivier Douliery / Consolidated News Photos / Global Look Press

If you ask President Donald Trump, the biggest threat to his presidency isn’t special counsel Robert Mueller’s Russia investigation, or a potential insurgency by Democrats in the November midterm elections: It’s the Federal Reserve.

"My biggest threat is the Fed," Trump said on Tuesday during an interview with FOX Business’ Trish Regan. "Because the Fed is raising rates too fast, and it’s too independent," he complained.

So far this year, policymakers have already voted to hike short-term interest rates three times, and are poised to do so again in December, staying the course they laid out late last year. The Fed also forecast an additional three rate increases in 2019 and one in 2020.

Higher rates can impact consumers by increasing borrowing costs, which have already ticked higher. Auto loan rates are at a nine-year high, and 30-year fixed mortgage rates recently climbed to their highest level in seven years.

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