July 19, 2019 / 1:04 PM / a month ago

Trump keeps up pressure on Fed as policy meeting approaches

FILE PHOTO: U.S. President Donald Trump talks to reporters as he departs for travel to Greenville, North Carolina from the South Lawn of the White House in Washington, U.S., July 17, 2019. REUTERS/Leah Millis??

WASHINGTON (Reuters) - U.S. President Donald Trump on Friday kept up his pressure on the Federal Reserve as the U.S. central bank’s next meeting approaches later this month, when financial markets expect an interest rate cut.

Trump, in a tweet, reiterated his call for lower interest rates and slammed the Fed for what he called its “faulty thought process.” Fed Chairman Jerome Powell has repeatedly said the Fed makes decisions independently from markets and the White House.

Reporting by Susan Heavey

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