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Tags: trump fed | blew it | twitter

Trump on Twitter: Fed 'Blew It' by Not Cutting Rates

Trump on Twitter: Fed 'Blew It' by Not Cutting Rates
(Kaspars Grinvalds/Dreamstime)

Monday, 24 June 2019 09:42 AM EDT

U.S. President Donald Trump again criticized the Federal Reserve on Monday for not cutting interest rates, keeping up his pressure on the central bank to change its policies.

“Despite a Federal Reserve that doesn’t know what it is doing - raised rates far to fast (very low inflation, other parts of world slowing, lowering & easing) & did large scale tightening, $50 Billion/month, we are on course to have one of the best Months of June in U.S. history,” he wrote on Twitter.

“Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4’s or even 5’s. Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!” he wrote.

The U.S. president has repeatedly accused the Federal Reserve led by Chairman Jerome Powell of undermining his administration’s efforts to boost economic growth and has repeatedly demanded that rates be cut.

The U.S. Federal Reserve last Wednesday signaled interest rate cuts beginning as early as July, saying it is ready to battle growing global and domestic economic risks as it took stock of rising trade tensions and growing concerns about weak inflation.

© 2023 Thomson/Reuters. All rights reserved.

Economy
President Donald Trump is continuing efforts to pressure the U.S. central bank system, saying the stock markets and economic growth would be much higher if not for its actions.
trump fed, blew it, twitter
213
2019-42-24
Monday, 24 June 2019 09:42 AM
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