Trump: 'My Only Question Is Who Is Our Bigger Enemy, Jay Powell Or Chairman Xi?'

U.S. President Donald Trump has never been shy of sharing his feelings about Federal Reserve Chairman Jerome Powell.

Just a couple of hours after China threatened to again retaliate to new U.S. tariffs with its own set of tariffs on $75 billion worth of U.S. imports, Trump once again slammed Powell and the Fed in a series of tweets.

Speaking Friday at the annual Jackson Hole symposium, Powell said the central bank was prepared to provide more stimulus if a global economic slowdown hurts the U.S., but stopped short of signaling the start of a more aggressive easing campaign. Powell said the Fed should try to “look through what may be passing events, focus on how trade developments are affecting the outlook, and adjust policy to promote our objectives," according to The Wall Street Journal.

Trump was quick to respond:

....My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?

— Donald J. Trump (@realDonaldTrump) August 23, 2019

Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won't let that happen! We don't need China and, frankly, would be far....

— Donald J. Trump (@realDonaldTrump) August 23, 2019

Earlier this week, the Federal Reserve released its July meeting minutes, and its language on the economy was relatively bullish given recent elevated fears of a U.S. recession. The Fed reiterated its previous intentions to let economic developments dictate near-term monetary policy actions rather than setting a specific course.

Related Links:

China To Raise Import Tariffs On $75B Additional US Goods

Fed Minutes: Trade War Could Have 'Significant Negative Effects On US Economy