Trump attacks Fed again, wants interest rate cut
WASHINGTON — 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 says the Federal Reserve “doesn’t know what it’s doing” and raised interest rates too quickly.
Despite a Federal Reserve that doesn’t know what it is doing – raised rates far too 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 US history…
— Donald J. Trump (@realDonaldTrump) June 24, 2019
….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!
— Donald J. Trump (@realDonaldTrump) June 24, 2019
The Republican president tweeted Monday “think of what it could have been if the Fed had gotten it right.”
Trump is encouraging the Federal Reserve to cut interest rates, saying “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!”
The Fed at its last meeting kept its benchmark rate in a range of 2.25% to 2.5% but hinted at future cuts. The rate influences many consumer and business loans.