US Pres. Trump: Told Powell the Fed Rate is set too high relative to the interest rates of other competitor countries

Dhwani Mehta FXStreet

In his latest tweet, the US President Trump said he complained to Federal Reserve (Fed) Chair Powell about high US interest rates when they met at the White House on Monday morning.

Trump tweeted out: “At my meeting with Jay Powell this morning, I protested fact that our Fed Rate is set too high relative to the interest rates of other competitor countries. In fact, our rates should be lower than all others (we are the U.S.). Too strong a Dollar hurting manufacturers & growth!”

The US dollar index, the greenback when measures against a basket of six major currencies, has stalled its recovery from two-week lows on Trump’s tweets. At the press time, the USD index trades around 97.80, almost unchanged on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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