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7/19, 2:47 PM (Source: TeleTrader)
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Trump: Fed is faulty, should lower interest rates

United States President Donald Trump told central bankers on Friday to "correct" their approach to interest rate policy. He continued the pressure on the Federal Reserve to cut borrowing costs even though its officials have already radically changed their bias this year. They have hinted at the possibility of easing in order to help the economy through uncertainty prompted by lagging inflation and his administration's trade conflicts with major partners.

"Because of the faulty thought process we have going for us at the Federal Reserve, we pay much higher interest rates than countries that are no match for us economically. In other words, our interest costs are much higher than other countries, when they should be lower," Trump wrote on Twitter.

Breaking the News / IT