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!”
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.
This article was provided by Bloomberg News.