Trump Tweets Fed ‘Probably Will Do Very Little’ to Lower Rates
Bloomberg
Published Jul 29, 2019 08:01AM ET
Updated Jul 29, 2019 08:24AM ET
Trump Tweets Fed ‘Probably Will Do Very Little’ to Lower Rates
(Bloomberg) -- President Donald Trump attacked the Federal Reserve in a tweet Monday, saying the U.S. central bank “probably will do very little” to counteract actions by Europe and China to ease monetary policy.
Fed officials are widely expected to lower interest rates by a quarter-percentage point when they meet Tuesday and Wednesday in Washington.
Trump has been pushing the Fed to cut interest rates as policy makers ready for their decision this week. The president has repeatedly attacked the Fed for more than a year, calling on policy makers and Chairman Jerome Powell to reduce borrowing costs after increasing them in 2018.
While data on the U.S. economy have been generally solid, policy makers have said they’re monitoring the risks of slowing global growth and elevated trade tensions. Officials are in a quiet period on public comment ahead of the gathering.
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Written By: Bloomberg
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