FOMC: Trump Makes Case for Bigger Rate Cut

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Written By: Eno Eteng (MSTA)
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US President Donald Trump is one again ratcheting up the rhetoric for a more aggressive rate cut by the US Federal Reserve when it meets on Wednesday July 31. In a series of tweets posted a few minutes ago, Trump was very unequivocal in his criticism of the quantitative tightening policy embarked on by the last Fed administration, blaming it for “the potential wealth creation that was missed” by the US.

He tweeted: “…. The Fed has made all of the wrong moves. A small rate cut is not enough, but we will win anyway!”

In an earlier tweet posted today, Trump had indicated that “the EU and China will further lower interest rates and pump money into their systems, making it much easier for their manufacturers to sell product,” He goes further to tweet that “In the meantime, and with very low inflation, our Fed does nothing – and probably will do very little by comparison. Too bad!”

Trump has been very vocal about what he thinks the Fed should do about interest rates. So far the US Dollar Index is still pushing upwards and has breached the 98% mark, which is the highest it has been since May 2019.Don’t miss a beat! Follow us on Twitter.

Written By: Eno Eteng (MSTA)

Eno is a certified financial technician and member of the UK Society of Technical Analysts. He loves to trade and write about stocks, Forex, and CFDs. Since 2009, he has consulted several financial companies as a trader and strategy developer. His work can be seen on several forex blogs and trading educational websites.

Published by
Written By: Eno Eteng (MSTA)