Skip to main content

Trump Ratchets Up Pressure for Fed Rate Cut

Phil Hall
Jul 29, 2019
Photo credit: Getty Images/ohmygouche

President Trump has continued his pressure on the Federal Reserve to enact a rate cut at this Wednesday’s meeting of its policymaking Federal Open Rate Committee.
 
This morning, the President came back to Twitter to belittle central bank’s policy, comparing it unfavorably to the nation’s leading trade rivals.
 
“The E.U. and China will further lower interest rates and pump money into their systems, making it much easier for their manufacturers to sell product,” he tweeted. “In the meantime, and with very low inflation, our Fed does nothing—and probably will do very little by comparison. Too bad!”
 
The central bank has not enacted a rate cut since December 2008. While Federal Reserve Chairman Jerome Powell hinted at a possible rate cut during an appearance earlier this month before the Senate Banking Committee, has not definitively stated when or if a rate cut could occur.

 
Published
Jul 29, 2019
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Tech
Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022