7/22, 2:12 PM (Source: TeleTrader)
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Trump: Rate costs should have been much lower

"They missed it (Big!). Don’t miss it again!" United States President Donald Trump told the Federal Reserve on Monday. In tweets from his personal account, he continued to criticize the central bank for raising interest rates and conducting so-called quantitative tightening "far too much & too fast." The president accused policymakers of wasting time and money. "Interest rate costs should have been much lower, & GDP & our Country’s wealth accumulation much higher. Also, very unfair that other countries manipulate their currencies and pump money in!" he asserted.

He went on to claim it would be "very inexpensive, in fact productive, to move now" with loosening. "With almost no inflation, our Country is needlessly being forced to pay a MUCH higher interest rate than other countries only because of a very misguided Federal Reserve. In addition, Quantitative Tightening is continuing, making it harder for our Country to compete. As good as we have done, it could have been soooo much better... It is far more costly for the Federal Reserve to cut deeper if the economy actually does, in the future, turn down!" Trump stated.

The Federal Reserve is due to hold a two-day meeting and issue a policy update when it ends on July 31.

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