U.S. President Donald Trump on Friday said he was ready to impose tariffs on all $500 billion of imported goods from China, threatening to escalate a clash over trade policy that has unnerved financial markets.
USA automakers, dealers and suppliers remained united in opposition to the president's tariffs for fear it would drive prices up.
"This is extraordinary to see Trump go after the Fed like this", said Greg Valliere, chief global strategist at Horizon Investments. He accused Beijing of stealing intellectual property, manipulating the yuan, and exposing illegal export subsidy practices.
After weeks of unproductive parleys, the United States 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.
However, the euro, yuan and yen all strengthened against the dollar, with the United States currency on track for its worst day of July.
U.S. stock index futures, already down on trade worries, fell further after the interview.
President Trump departs after speaking at a "Pledge to America's Workers" event in the East Room of the White House on Thursday. Trump's latest move in the trade war with China came as investors try to gauge the ability of the Asian nation's economy - the world's second-biggest - to withstand a protectionist showdown. During the interview, Trump himself predicted the response: "Now I'm just saying the same thing that I would have said as a private citizen", he said.
Chicago police clash with angry residents after Harith Augustus fatally shot
A string of police killings of black men, some unarmed, has caused outrage and led to protests in cities across the US. She said Augustus explained that he wasn't, the situation escalated, and he was shot as he was running away.
The Trump administration has also angered key allies by imposing tariffs of steel and aluminum imports earlier this year.
Trump nominated current Fed Chair Powell, who had served as a governor on the board of the US central bank, to serve at its helm after Janet Yellen's retirement in February.
So Clinton said that the Fed's independence was one of the things that actually made the USA economy look strong, according to Low.
In his remarks to CNBC, Trump called Powell "a very good man".
The Fed has raised interest rates twice in 2018, and is expected to issue at least two more rate hikes before the end of the year.
The chance inflation might accelerate has increased after the massive tax cut Trump championed a year ago, which has raised the U.S. debt and budget deficit. Tightening now hurts all that we have done.
In a Friday tweet, Trump said: "The United States should not be penalized because we are doing so well. He was being asked - pestered really - about a series of Fed rate hikes", Low said. "I couldn't care less what they say, because my views haven't changed". The Fed has been carefully and gradually raising rates over the past several years to keep inflation in check and to prevent the economy from overheating.