US Pres. Trump: Fed should ease and “cut rate big”
US President Donald Trump noted that the Reserve Bank of Australia lowered its policy rate to 0.5% to battle the economic slowdown amid the coronavirus outbreak and called upon the Federal Reserve to make a big interest rate cut.
“Our Federal Reserve has us paying higher rates than many others when we should be paying less. Tough on our exporters and puts the USA at a competitive disadvantage,” Trump tweeted out. “We must be the other way around. Should ease and cut rate big. Jerome Powell led Federal Reserve has called it wrong from day one.”
The USD’s reaction to Trump’s comments was relatively muted. As of writing, the US Dollar Index was up 0.08% on a daily basis at 97.60.