×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: trump | fed | policymakers | rates

Trump Blasts Fed as Policymakers Meet on Rates

Trump Blasts Fed as Policymakers Meet on Rates
(Getty Images)

Tuesday, 29 October 2019 03:56 PM EDT

President Donald Trump launched a fresh attack on the U.S. Federal Reserve on Tuesday, saying it needed to follow other nations with negative interest rates, as officials opened a two-day meeting that was expected to end with a rate cut.

“The Fed doesn’t have a clue! We have unlimited potential, only held back by the Federal Reserve,” Trump wrote on Twitter.

Trump, in a departure from his White House predecessors who refrained from commenting on Fed policy, has made a habit of criticizing the U.S. central bank for decisions he says kept borrowing costs too high for too long.

In September, he began to argue the Fed needed to push borrowing costs into negative territory, a step reluctantly pursued by some other central banks battling weak economic growth.

Fed officials are expected to announce a quarter-percentage point rate cut at 2 p.m. (1800 GMT) on Wednesday after they wrap up their meeting. That would push the benchmark federal funds rate down to a range of 1.5% to 1.75%.

© 2023 Thomson/Reuters. All rights reserved.

Economy
President Donald Trump launched a fresh attack on the U.S. Federal Reserve on Tuesday, saying it needed to follow other nations with negative interest rates, as officials opened a two-day meeting that was expected to end with a rate cut.
trump, fed, policymakers, rates
168
2019-56-29
Tuesday, 29 October 2019 03:56 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved