Trump reacts to Fed's interest rate decision
U.S. President Donald Trump criticized the Federal Reserve's (Fed) decision to cut the policy rate by 25 basis points, calling it too low and stating it could have been cut by "at least double."
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Trump continued his criticism of Fed Chair Jerome Powell during a roundtable meeting with business leaders at the White House.He continued hiscriticism ofPowell.
DescribingPowell as "stubborn," Trump argued that interest rates should belowered.Heacknowledgedthe move, but argued that Powellhas not done enough, he claimed.
Referring to the interest rate cut decision,Trump stated, "Quitedisappointing."I can say that it was too low, it could have been at least double that amount," he said.
"OUR INTEREST RATE SHOULD BE MUCH LOWER"SHOULD BE HIGHER"
When asked whether he was interviewing candidates toreplace Fed Chair Jerome Powell, whose term expires in May nextyear, Trump said he would be meetingwith former Fed board member Kevin Warsh todayto discuss the potential appointment.Heconfirmed.
Trump said, "I have a pretty good idea of what I'm looking for. I'm looking for someone who will be honest about interest rates. I just want honesty, our interest rates." should be much lower. Our interest rate is the world's lowesthigher ratesshould be," he said.