Trump Attacks Federal Reserve Again, Wants Interest Rate Cut

06/24/2019

Associated Press,

President Donald Trump listens to a question during a meeting with Canadian Prime Minister Justin Trudeau in the Oval Office of the White House, Thursday, June 20, 2019, in Washington. (AP Photo/Evan Vucci)

WASHINGTON (AP) — 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.

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.

Source: AP