President Donald Trump is calling on the Federal Reserve to cut interest rates by at least a full percentage point “over a fairly short period of time,” saying such a move would make the U.S. economy even better and would also “greatly and quickly” enhance the global economy.
…..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. If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!
— Donald J. Trump (@realDonaldTrump) August 19, 2019
In two tweets Monday, Trump kept up his pressure on the Fed and its chairman Jerome Powell, saying the U.S. economy was strong “despite the horrendous lack of vision by Jay Powell and the Fed.”
He says Democrats were trying to “will” the economy to deteriorate ahead of the 2020 election.
Trump administration officials in recent days have sought to calm worries about a potential U.S. recession that were heightened by last week’s steep stock-market decline.