Trump says Fed should cut U.S. rates; Powell doing 'bad job' [View all]
Source: Reuters
Business News
June 26, 2019 / 9:01 AM / Updated 3 hours ago
WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday called on the Federal Reserve to lower interest rates so the United States can compete with countries that he said are devaluing their currencies.
Trump said Fed Chair Jerome Powell was doing a “bad job” managing policy as countries like China stimulate their economies.
“He has to lower interest rates for us to compete with China,” Trump told Fox Business Network, adding that other counties are also stimulating their economies. “If they devalue and we can’t we are no longer on a level playing field.”
Trump said he believed he had the right to fire or demote Powell. But he said: “I never suggested I was going to do that.”
Read more: https://www.reuters.com/article/us-usa-trump-fed/trump-says-fed-should-cut-u-s-rates-powell-doing-bad-job-idUSKCN1TR1SU
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