Trump urges Fed to lower rates by at least 100 bp

Istanbul, Aug 20 (DHA) - US President Donald Trump again took aim at the Federal Reserve and its chairman, Jerome Powell, in a series of tweets urging the central bank to lower rates and restart quantitative easing.
“The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well” Trump wrote in a tweet. “If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!”
Trump, in the first part of the series of tweets, said the economy is “very strong despite the horrendous lack of vision by Jay Powell and the Fed.”
The central bank lowered its benchmark interest rate last month by a quarter-point, to a range of 2 percent to 2.25 percent – the first rate cut in more than a decade. When the Fed announced the move, Trump voiced his displeasure via Twitter and took aim at the central bank’s chairman, Jerome Powell, who has held the post since early 2018 after being nominated by the president. (Photo)