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.
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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.
Just last week trumpilstilskin said the Fed was fine. Now he attacks it again? He can’t be trusted in anything.
ald J. Trump
Early in the Presidency, Obama had a meeting with the Fed Chair and his economic team. We invited the press in for the top of the meeting. Obama was criticized up and down for politicizing the Fed simply by having the chair sit silently at a press statement.
Times have changed.