Trump finally gets his wish from the Fed, but not for the reasons he had wanted

The Federal Reserve might just had stalled interest rate increases for the year.

The move announced on Wednesday should please President Trump, who has repeatedly urged the central bank to put brakes on rate hikes. However, he may not like the Fed’s caution when he has a look at the factors driving it.

Even though Fed officials kept the federal funds rate steady in a range of 2.25 percent to 2.5 percent, they cut their economic outlook. They now expect gross domestic product growth of just 2.1 percent this year, down from a 2.3 percent estimate in December last year.

They also suggested that no rate increases would come this year. This is after indicating in December that two of them could take place.

Trump has pushed the central bank publicly to hold steady on rates, even saying that he is “very unhappy” with Fed Chairman Jerome Powell. He eviscerated the central bank after a quarter-point rate increase in December, the fourth of 2018.

He wrote in one of his tweets that the only problem our economy has is the Fed  as they don’t have a feel for the Market and don’t understand necessary Trade Wars, Strong Dollars or even the Democrat Shutdowns over Borders.

He also wrote that Fed is like a powerful golfer who can’t score because he has no touch and he can’t putt.