Trump heaps pressure on Fed, Fed chair Jerome Powell

Business

FILE PHOTO: U.S. President Donald Trump answers questions from reporters as he meets with Romania’s President Klaus Iohannis in the Oval Office of the White House In Washington, U.S. August 20, 2019. REUTERS/Kevin Lamarque

WASHINGTON (Reuters) – President Donald Trump on Wednesday continued to pressure the Federal Reserve and the central bank’s chairman to lower interest rates, saying its policies were hampering U.S. growth and reducing the country’s ability to compete economically.

“Doing great with China and other Trade Deals. The only problem we have is Jay Powell and the Fed. He’s like a golfer who can’t putt, has no touch. Big U.S. growth if he does the right thing, BIG CUT – but don’t count on him!” Trump wrote on Twitter.

“We are competing with many countries that have a far lower interest rate, and we should be lower than them,” he added.

Reporting by Makini Brice; Editing by Doina Chiacu

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