“Make America great again” and make his greatness to America). For that slogan turns into reality, Donald Trump did not hesitate Tuesday to put pressure on the u.s. central bank, an institution known for its independence. Asking him to tweet of lower rates to boost the economy “like a rocket” and accusing him of “constantly” raised rates and slowed the economy. As expected, the Fed has ignored Wednesday injunctions. In the Face of robust growth and despite a low inflation below its 2% target, the central bank has left its rates unchanged, as predicted by most observers. “The decline in inflation should be temporary, so that the strength of the economic growth and the job market, just as the risk to the financial stability of a monetary policy too accommodating, do not speak in favour of a reduction in interest rates in the United States,” said Valentin Bissat, an economist and strategist for the swiss bank Mirabaud. At the end of the third meeting of the monetary policy committee since the beginning of the year, the Fed has held, in a unanimous decision, his rate day-to-day in the range of 2.25% and 2.50 %, saying that it would be patient to determine future adjustments.

The u.s. monetary policy cannot be resolved to a tweet. Activity in the manufacturing sector has certainly slowed more than expected in April, falling to its pace is the lowest since the election of Donald Trump, according to the ISM manufacturing index. And inflation is low. But, as underlined by Rabobank, the american economy is not that bad: “If we compare the rate of growth in a year, the 1.2% of the euro area is significantly below the 3.2 per cent published last week for the United States.” The Stock market, the S&P 500 has gained 3.9% in April, signing these last four months, its largest increase in nearly nine years. Finally, even if the figure is inflated by technical factors, job creation in the private sector in the United States reached in April to their highest level since July (+ 275.000 ), according to the survey of ADP. The rate decrease could wait!