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Trump heaps pressure on Fed and its chairman Powell to cut rates

Published 08/21/2019, 09:32 AM
Updated 08/21/2019, 09:32 AM
© Reuters. U.S. President Donald Trump answers reporters questions in the Oval office of the White House In Washington

© Reuters. U.S. President Donald Trump answers reporters questions in the Oval office of the White House In Washington

WASHINGTON (Reuters) - President Donald Trump on Wednesday continued to pressure the Federal Reserve and the central bank's chairman to lower interest rates, saying its policies were hampering U.S. growth and reducing the country's ability to compete economically.

"Doing great with China and other Trade Deals. The only problem we have is Jay Powell and the Fed. He's like a golfer who can't putt, has no touch. Big U.S. growth if he does the right thing, BIG CUT - but don't count on him!" Trump wrote on Twitter.

"We are competing with many countries that have a far lower interest rate, and we should be lower than them," he added.

The comments by Trump, who has repeatedly criticized the Federal Reserve's policies, come as he seeks to downplay worries that a trade war between the United States and China could weigh on the U.S. economy and trigger a possible recession before the November 2020 presidential election.

© Reuters. U.S. President Donald Trump answers reporters questions in the Oval office of the White House In Washington

Minneapolis Federal Reserve Bank President Neel Kashkari, who does not have a vote on the Fed's monetary policy committee this year but participates in policy discussions at the central bank, urged the Fed to use forward guidance as the global economy has slowed in an op-ed published in the Financial Times on Wednesday.

Latest comments

trump should be thrown in jail
China exchange is recoving fast... US by the name itself has to stay united... the only sol. Else many will switch to banker sooner...
So tired of how Barney Rubble is handling things.
If the Fed cuts, they should be dissolved. The president was never intended to control markets just for re election. this sets a new president that needs to be abolished.
Jay purposely want US to dump U in the next election so u can no more bully him.
Classic Trump! Using his "bully pulpit"!
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