Trump urges Fed to make large rate cut as policymakers meet

U.S. President Donald Trump talks to reporters as he departs for travel to Williamsburg, Virginia from the South Lawn of the White House in Washington, U.S., July 30, 2019. REUTERS/Leah Millis

WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday called on the Federal Reserve to make a large interest rate cut, saying he was disappointed in the U.S. central bank and that it had put him at a disadvantage by not acting sooner.

“I would like to see a large cut and I’d like to see immediately the quantitative tightening stop,” Trump told reporters outside the White House.

“I’m very disappointed in the Fed. I think they acted too quickly by far, and I think I’ve been proven right ... The Fed is often wrong,” Trump added.

Trump made the comments as the Fed began its two-day policy meeting.

Fed Chairman Jerome Powell signalled earlier this month that the central bank would ease monetary policy as the U.S. economy faces headwinds from weak global growth, trade tensions and Britain’s possible disorderly departure from the European Union.

Reporting by Alexandra Alper; Writing by Susan Heavey and Makini Brice; Editing by Andrea Ricci