Fed is data-oriented, Mnuchin says

Economy 12/3/2018, 2:24 PM
Fed is data-oriented, Mnuchin says

United States Treasury Secretary Steven Mnuchin stated to CNBC that he believes the current Federal Reserve officials are "data-oriented" and make their decisions based on numbers. "They will react to numbers, this is not like the previous Fed" who made "their decision regardless," the secretary noted during his interview.

Mnuchin said that he believes the central bank is doing a good job, especially since its also "important" in terms of inflation and oil prices. He added that he will not comment on whether the Fed should implement another interest rate hike, but stressed that he is looking forward to the central bank's meeting set for this December.

The treasury secretary's comments come after United States President Donald Trump previously heavily criticized the Fed's monetary policy decisions, highlighting that the interest rate hikes that are happening "too fast" make the central bank his "biggest threat."

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