US Pres. Trump: Federal Reserve doesn’t know what it is doing
U.S. President Donald Trump, once again, took out to Twitter to voice his criticism of the Federal Reserve's monetary policy in a thread that read:
"Despite a Federal Reserve that doesn’t know what it is doing - raised rates far to fast (very low inflation, other parts of world slowing, lowering & easing) & did large scale tightening, $50 Billion/month, we are on course to have one of the best Months of June in U.S. history."
"Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4’s or even 5’s. Now they stick, like a stubborn child, when we need rates cuts, & easing, to make up for what other countries are doing against us. Blew it!"
The US Dollar Index, which has already suffered heavy losses amid pricing of rate cut expectations, ignored those comments and was last seen losing 0.07% on the day at 96.03.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
