Tags: Donald Trump | Financial Markets | Trump Administration | trump | fed | rates | economy

Trump Continues to Hammer Fed, Suggests More Rate Cuts

The Federal Reserve building in Washington, D.C.
The Federal Reserve building in Washington, D.C. (Caroline Brehman/CQ Roll Call/Getty Images)

By    |   Thursday, 29 August 2019 11:17 AM

President Donald Trump on Thursday continued his criticism of the Federal Reserve for not cutting rates, which he claims has held back the economy, despite the Fed doing so in July.

"The Economy is doing GREAT, with tremendous upside potential! If the Fed would do what they should, we are a Rocket upward!" Trump tweeted Thursday morning.

On Wednesday, Trump claimed that "Our Federal Reserve cannot 'mentally' keep up with the competition - other countries," in a tweet.

"At the G-7 in France, all of the other Leaders were giddy about how low their Interest Costs have gone," he added. "Germany is actually 'getting paid' to borrow money - ZERO INTEREST PLUS! No Clue Fed!"

Earlier this week, he tweeted that the Fed "loves watching our manufacturers struggle with their exports to the benefit of other parts of the world. Has anyone looked at what almost all other countries are doing to take advantage of the good old USA? Our Fed has been calling it wrong for too long!"

The Fed cut interest rates in July for the first time in more than a decade, but the cuts didn't go as low as Trump wanted. Fed chair Jerome Powell said at the time, "the outlook for the U.S. economy remains favorable, and this action is designed to support that outlook," according to The New York Times. He also said the rate cut was "intended to ensure against downside risks from weak global growth and trade tensions."

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President Donald Trump on Thursday continued his criticism of the Federal Reserve for not cutting rates, which he claims has held back the economy, despite the Fed doing so in July.
trump, fed, rates, economy
248
2019-17-29
Thursday, 29 August 2019 11:17 AM
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