Thursday, December 8, 2022

Trump: As usual Powell has “failed” us on interest rates


Adil Ghaffar
Experienced Chief Executive Officer with a demonstrated history of working in the financial services' industry. Skilled in Negotiation, Business Planning, Microsoft Word, Accounting, and Team Building. Strong business development professional with an ACA focused in Accounting and Finance from institute of chartered accountants of Pakistan. Contact: [email protected]

US President Donald Trump said that Federal Reserve Chairman Jerome Powell “failed” to cut interest rates by a quarter percentage point Wednesday evening, arguing that the market wanted a signal for the launch of “a lengthy and aggressive rate cut.”

“What the market wanted to hear from (Jerome) Powell and the Federal Reserve is that this is the beginning of a long and aggressive cycle of interest rate cuts in the way China, the European Union and other countries are doing,” Trump said in a tweet just hours after the US central bank issued its latest policy statement. around the world”.

“As usual, Powell has failed us, but at least he is putting an end to the quantitative emphasis that should not have started,” Trump said.

Read also: Fed signals interest break for 2019

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