Trump 1 has appointed policymakers to the Federal Reserve who are raising interest rates, as they were expected to do, and has nominated still more.
Trump 2 has said the Fed is “crazy,” “going loco,” and “going wild” for raising interest rates as fast as it has.
I think Trump 1 had it right. Fed policy looks roughly right at the moment, if you assume its job is either to minimize inflation plus unemployment or to keep nominal spending growing at a steady rate. It may be a bit too tight or a bit too loose.
In Trump 2’s defense, nearly any president would be cautious about the possible impact of raising interest rates on the economy and on his own re-election.