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Trump Steps Up Fed Attack, Calls It Incompetent and Urges Cuts

Bloomberg logo Bloomberg 07/08/2019 Alister Bull

a man standing on top of a grass covered field: U.S. President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C. on July 5, 2019. © Photographer: Sarah Silbiger/Bloomberg U.S. President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C. on July 5, 2019. (Bloomberg) -- President Donald Trump stepped up his relentless assault on the Federal Reserve in a series of Wednesday morning tweets that renewed his demand for “bigger and faster” interest rate cuts.

“Incompetence is a terrible thing to watch, especially when things could be taken care of sooo easily. We will WIN anyway,” he said. “It would be much easier if the Fed understood, which they don’t, that we are competing against other countries, all of whom want to do well at our expense!”

a large tall tower with a clock on the side of a building: The Marriner S. Eccles Federal Reserve building stands in Washington, D.C. © Photographer: Andrew Harrer/Bloomberg The Marriner S. Eccles Federal Reserve building stands in Washington, D.C.

Concerns over an escalating trade war between the U.S. and China have shaken financial markets and increased bets the Fed will follow a quarter point cut it made last week with further easing in coming months.

“They must Cut Rates bigger and faster, and stop their ridiculous quantitative tightening NOW. Yield curve is at too wide a margin, and no inflation!” Trump said. The Fed last week ceased its gradual shrinking of the balance sheet, which the president calls quantitative tightening.

To contact the reporter on this story: Alister Bull in Washington at abull7@bloomberg.net

To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Vince Golle

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

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