June 20, 2019 / 5:12 PM / a month ago

Trump on Fed's Powell: 'You can't win 'em all'

(Reuters) - U.S. President Donald Trump on Thursday kept up the pressure on Federal Reserve Chairman Jerome Powell to cut interest rates, a day after U.S. central bankers signaled they would likely do so later this year to boost the economy and sluggish inflation.

“Well, I guess they indicated they’re going to be lowering them, should have done sooner, but what are you going to do,” Trump said to reporters as he met with Canadian Prime Minister Justin Trudeau at the White House.

“You can’t win ‘em all. He should have done it sooner, but you can’t win it all. Eventually, he’ll do what’s right, perhaps. Let’s see what he does.”

Trump believes he has the authority to replace Powell and demote him to board governor, but is not planning to do so presently, Bloomberg reported bloom.bg/2ItCJUQ on Wednesday, citing people familiar with the matter.

The Fed on Wednesday left its benchmark interest rate unchanged but said it would act as needed to keep the economic expansion going.

Reporting by Roberta Rampton; Writing by Ann Saphir; Editing by Tom Brown

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