Washington:
US President Donald Trump on Thursday blew Federal Reserve President Jerome Powell not to reduce the interest rates, calling them “always too late and wrong”.
Trump wrote on his truth stage, “Powell’s end cannot come very fast.” “To reduce the interest rates long ago, like the ECB, long ago, but he must definitely reduce them now.”
The Central Bank chair on Wednesday warned that the broad tariffs of Trump could put the fed on almost every business partner in an unworthy position of selecting inflation and unemployment.
Trump’s stop-start tariff policy has made investors and business partners uncertain about the long-term strategy, and what can it mean to international trade.
Trump has repeatedly urged Powell to cut interest rates from Powell, but the US central bank has taken a waiting-and-appearance attitude to keep the interest rates from 4.25 to 4.5 percent stable since the beginning of this year.
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