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NewsBreak: Trump Rages as ECB Restarts QE, Cuts Rates

Published 09/12/2019, 08:28 AM
Updated 09/12/2019, 08:36 AM
© Reuters.

Investing.com -- President Donald Trump raged again at the Federal Reserve Thursday after the European Central Bank cut its key interest rate further into negative territory and announced it would restart quantitative easing from November.

  • "They are trying, and succeeding, in depreciating the Euro against the VERY strong Dollar, hurting U.S. exports.... And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!" Trump said via Twitter.

  • ECB cut its deposit rate by 10 basis points to -0.5%;

  • ECB will resume quantitative easing on an open-ended basis at a rate of 20 billion euros a month from November

  • EUR/USD at $1.0969 vs $1.1023 immediately before the QE announcement.

  • ECB President Mario Draghi's press conference to start at 8:30 AM ET. Follow it live at investing.com.

    Latest comments

    Yes never blame the ones who vote the spending in. Mandates the Fed. CONGRESS
    millions on the govt dole, trillions owed, money being stolen, millions that are employable are unemployed. Recession we are in now. They have no bullets except more pain for savers
    if fed would waste its bullets now, when recession will hit they would have no amo and the US would colapse together with USD and the huge debt of US.
    why would a great big MAGA BOOMING economy need any stimulus at all. . . the fact is we are headed for a major recession and will have NEGATIVE growth next year. . . with the highest deficits ever recorded. . . . . the EXACT opposite of MAGA
    Why did ever? Rates went zero under Clinton Bushy and Obi
    will pairs with usd go long or short
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