The central bank’s quarter-point cut wasn’t large enough to suit the president
The Federal Reserve cut interest rates by a quarter point Wednesday, but that wasn’t enough for President Donald Trump, who renewed his attacks on the central bank and its chair.
In his latest attack, Trump tweeted that the Fed and its chair, Jerome Powell, had “No ‘guts,’ no sense, no vision!”
Trump’s attacks came less than half an hour after the Fed announced its second rate cut in a row, according to a Reuters report.
Trump also tweeted that Powell was “A terrible communicator.”
“Jay Powell and the Federal Reserve Fail Again,” he tweeted.
Trump has repeatedly demanded a larger rate cut from the Fed. He has called for interest rates to be reduced to zero or even lower, and repeatedly attacked Powell, whom he appointed as chair.
When announcing Wednesday’s rate cut, the Fed said that Trump’s trade war with China and a global economic slowdown could hamper US economic growth, Reuters reported.
