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President Trump continued to ratchet up his demands for a new rate cut by the Federal Reserve, this time specifically requesting a minimum slash of 100 basis points.
The President took to Twitter again to declare: “Our Economy is very strong, despite the horrendous lack of vision by Jay Powell and the Fed, but the Democrats are trying to “will” the Economy to be bad for purposes of the 2020 Election. Very Selfish! Our dollar is so strong that it is sadly hurting other parts of the world.......”
Trump continued his Twitter commentary by declaring: “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!”
Last month, the central bank announced its first rate cut since December 2008, although the President was displeased by the depth of the action. The next chance for a rate cut will come when the Federal Open Market Committee (FOMC), the Fed’s policymaking component, meets from Sept. 17-18.
