Tags: trump | criticism | federal reserve

Trump Slams the Fed Again Over High Interest Rates

Trump Slams the Fed Again Over High Interest Rates
(KAREN BLEIER/AFP/Getty Images)

Friday, 19 July 2019 09:43 AM

President Donald Trump renewed his criticism of the Federal Reserve on Friday, complaining that the U.S. is paying “much higher interest rates” than other countries, even as central bankers prepare for a meeting later this month at which they’re widely expected to ease policy.

“Because of the faulty thought process we have going for us at the Federal Reserve, we pay much higher interest rates than countries that are no match for us economically,” the president said in the first of a series of tweets. “In other words, our interest costs are much higher than other countries, when they should be lower. Correct!”

The Fed gathers July 30-31 for a meeting in Washington at which it has clearly signaled it is preparing to lower borrowing costs, to counter uncertainties stemming from Trump’s trade war and weakening global growth. The target range for their policy benchmark is currently 2.25% to 2.5%.

Investors have fully priced in at least a quarter-point move and increased their bets on Thursday that the Fed would go by as much as a half point after two of its top officials discussed the benefits of acting quickly when rates are already low.

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Politics
President Donald Trump renewed his criticism of the Federal Reserve on Friday, complaining that the U.S. is paying "much higher interest rates" than other countries, even as central bankers prepare for a meeting later this month at which they're widely expected to ease...
trump, criticism, federal reserve
196
2019-43-19
Friday, 19 July 2019 09:43 AM
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