US President Donald Trump on Tuesday reiterated his criticism of the Federal Reserve for maintaining high interest rates that put the dollar at a disadvantage against the euro and other global currencies
WASHINGTON (Pakistan Point News / Sputnik - 11th June, 2019) US President Donald Trump on Tuesday reiterated his criticism of the Federal Reserve for maintaining high interest rates that put the dollar at a disadvantage against the euro and other global currencies."This is because the Euro and other currencies are devalued against the dollar, putting the US at a big disadvantage. The Fed Interest rate way to high, added to ridiculous quantitative tightening! They don't have a clue!" Trump said in a statement posted on Twitter.
Trump's statement came in response to a Bloomberg opinion article, which asked, "how do you stop tourists from coming" to Europe?
The president has repeatedly criticized the Federal Reserve for refusing to lower interest rates. The Fed last month maintained the benchmark interest rate at 2.25 percent to 2.5 percent.
On June 4, Federal Reserve Chairman Jerome Powell said in a speech that US central bank is monitoring the impact of global trade developments and is ready to take steps to alleviate any harm that ongoing tariff disputes might cause to the economy.
Powell did not directly reference interest rates, but his comments were widely interpreted to mean that the Federal Reserve could adjust its monetary policy if the trade wars dampen economic growth.
