'Our bigger enemy': Trump escalates attack on Fed chief '

President Donald Trump launched a furious and highly personal Twitter attack Friday against the Federal Reserve and chairman Jerome Powell, fuming that the Fed "did NOTHING!" and wondering who is "our bigger enemy" Powell or China's leader.

The outburst came after Powell, speaking to central bankers in Jackson Hole, Wyoming, gave vague assurances that the Fed "will act as appropriate" to sustain the nation's economic expansion.

While the phrasing was widely seen as meaning interest rate cuts, he offered no hint of whether or how many reductions might be coming the rest of the year.

Powell had barely finished speaking before Trump escalated his criticism of the Fed, which he has repeatedly accused of keeping rates too high.

For months, the president has in particular ridiculed Powell, who was his own choice to lead the Fed, an independent agency.

"As usual, the Fed did NOTHING!" Trump tweeted, adding, "We have a very strong dollar and a very weak Fed."
"The central banks that have been successful are those which are independent of political pressures and were free to make the appropriate monetary policy."
Earlier in the week, he told reporters, "If the Fed would do its job, you would see a burst of growth like you have never seen before."