March 10, 2020 / 2:16 PM / 19 days ago

Trump presses 'pathetic' Fed to cut rates more aggressively

WASHINGTON (Reuters) - President Donald Trump on Tuesday lashed into the U.S. Federal Reserve and its chairman Jerome Powell, calling the institution “pathetic, slow moving” and saying it should bring U.S. interest rates down to the level of “competitor nations.”

“Our pathetic, slow moving Federal Reserve, headed by Jay Powell, who raised rates too fast and lowered too late, should get our Fed Rate down to the levels of our competitor nations,” Trump said on Twitter. “They now have as much as a two point advantage, with even bigger currency help.”

Reporting by Tim Ahmann; Editing by Chizu Nomiyama

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