President Donald Trump continued to assail the Federal Reserve and its Chairman Jay Powell in a pair of tweets Thursday despite interest rates dropping by another quarter point.
In a two-part tweet, Trump argued that the Fed is placing the United States at a "competitive disadvantage."
"People are VERY disappointed in Jay Powell and the Federal Reserve. The Fed has called it wrong from the beginning, too fast, too slow. They even tightened in the beginning. Others are running circles around them and laughing all the way to the bank. Dollar & Rates are hurting…" Trump wrote.
He added, "….our manufacturers. We should have lower interest rates than Germany, Japan and all others. We are now, by far, the biggest and strongest Country, but the Fed puts us at a competitive disadvantage. China is not our problem, the Federal Reserve is! We will win anyway."
It was reported this week that manufacturing in the U.S. accounts for just 11% of the nation's gross domestic product, the smallest slice since 1947.
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