The Fed is ignoring Trump: this is a fight he cannot win | Nils Pratley

The US president has attacked Jerome Powell again, but the central bank is simply dealing with economic reality

In the past month Donald Trump has called the US Federal Reserve "crazy", "out of control" and "loco". This week he returned for another bite. The Fed is the "my biggest threat", said the president, and he is "not happy" with the chairman, Jerome Powell, an official he nominated to office less than a year ago.

The upwards adjustments to US interest rates are "too fast", argued Trump, because inflation is "very low".