This week in an interview with CNBC, President Trump expressed his displeasure with the Fed for raising interest rates while at the same time his administration is attempting to boost economic growth, saying that the Fed hikes "hurt all that we have done" and undermine America's "competitive edge".
To us, this rhetoric echoes Richard Nixon's actions in the run-up to the 1972 election. Nixon wanted a macroeconomic environment of strong growth and low unemployment. To achieve this, Nixon replaced William McChesney Martin with his pick Arthur Burns as the Fed Chair and pressured the new