Trump Slams Powell Despite Fed Lowering Interest Rate

Muhammad Irfan Published September 19, 2019 | 12:21 AM

US President Donald Trump in a statement on Wednesday said the Federal Reserve failed again after the central bank lowered interest rates by 25 basis points

WASHINGTON (UrduPoint News / Sputnik - 19th September, 2019) US President Donald Trump in a statement on Wednesday said the Federal Reserve failed again after the central bank lowered interest rates by 25 basis points.

Earlier, the Federal Reserve lowered the US benchmark interest rate to a range of 1.

75 percent to 2 percent, apparently not low enough for the president. The Fed also signaled, however, that the rate may have to be raised in the future based on economic conditions.

"Jay Powell and the Federal Reserve Fail Again. No 'guts,' no sense, no vision! A terrible communicator!" Trump said via Twitter.

Trump has repeatedly criticized the Fed for allegedly risking US competitiveness by keeping rates too high.