Trump attack US Fed, requires rate cut – Raw Story

President Donald Trump attacked the independent US central bank on Friday and demanded the central bank's reverse rate and cut interest rates. That's what is expected to do this month.

In another Twitter outbreak, Trump called the Fed to

"We've been in a world competition and winning big but there's no thanks to the Federal Reserve," he said.

"Had they not acted so fast and" so much, "we would do even better than we do right now. This is our chance to build unparalleled wealth and success for the US, GROWTH … Don't blow it!"

The US central bank increased its benchmark four times last year, but seems almost certain to withdraw with the first cut for a decade at its political meeting on 31-31. July.

Recent comments from Fed officials seemed to confirm the signal that decision-makers are prepared to maintain US growth in the face of a slower global economy and sustained trade tensions with China.

"You don't have to wait until it gets so bad to get a dramatic number of cuts," said Fed Business Manager Richard Clarida on Thursday.

That comment echoed a statement earlier Thursday from John Williams, the influential vice president of the Fed's Political Affairs Committee, who spoke about the need to vaccinate when prices are very low.

"When you just have so much stimulus at your disposal, it pays to act quickly to lower prices causing signs of financial distress," said Williams, president of the New York Federal Reserve Bank.

Following Williams' remarks, the New York Fed told media talks about decades of research and was not about what the central bank can decide on its next policy meeting.

Trump said Friday he liked Williams' first statement much better than his others. His first statement is 100% correct by the Fed & # 39; s raised too fast and too early. "

New York Fed had no comment on Trump's tweets, which were only the last in the long series of attacks that have flaunted the recent tradition of protecting the independence of the central bank.

Report styles and corrections to [email protected].

Send confidential news tips to [email protected].

Source link

Back to top button