You are using an older browser version. Please use a supported version for the best MSN experience.

Trump rips latest rate cut, saying Fed lacks guts and vision

Reuters logo Reuters 9/18/2019
a man standing in front of water: U.S. President Donald Trump disembarks from Air Force One at Los Angeles International Airport in Los Angeles© Reuters/TOM BRENNER U.S. President Donald Trump disembarks from Air Force One at Los Angeles International Airport in Los Angeles

WASHINGTON - President Donald Trump blasted the Federal Reserve for delivering only a quarter-percentage point interest rate cut on Wednesday, saying the U.S. central bank and its chair, Jerome Powell, had "No 'guts,' no sense, no vision!"

"A terrible communicator," Trump said of Powell in his latest Twitter attack on the Fed and Powell, less than a half hour after the Fed announced its second rate reduction this year.

"Jay Powell and the Federal Reserve Fail Again," Trump said.

Trump had called for a larger rate cut from the Fed. He has repeatedly railed against the Fed and Powell, whom he appointed as chair, claiming that the Fed's monetary policy has been holding back U.S. economic growth.

The Fed, in announcing the rate cut, said Trump's trade war with China and a global economic showdown ran the risk of creating headwinds for U.S. economic growth, but it gave mixed signals as to what sort of actions it may take next.

Related video: Powell discusses divided opinion within the Fed (provided by Fox Business)

UP NEXT
UP NEXT

AdChoices
AdChoices
AdChoices

More From Reuters

image beaconimage beaconimage beacon