Trump says U.S. economy 'handcuffed' by Fed, wants further rate cut

[Eugene]

Source: Reuters

BUSINESS NEWS AUGUST 9, 2019 / 10:21 AM / UPDATED 3 HOURS AGO

Trump says U.S. economy 'handcuffed' by Fed, wants further rate cut

WASHINGTON (Reuters) - U.S. President Donald Trump on Friday called on the Federal Reserve to lower interest rates by a full percentage point, saying the nation’s economy was being “handcuffed” by the U.S. central bank’s monetary policy.

Trump, speaking to reporters at the White House, said a strong U.S. dollar was hurting American manufacturers and that the Fed needed to lower rates further despite its cutting rates last month for the first time since 2008.

A full percentage point cut would be even more aggressive than the three 0.75 percentage-point reduction bond investors currently expect the Fed to make in small steps between now and January.

The Republican president did not give any other details about how he would want the Fed to proceed on carrying out such a drastic reduction.

-snip-

Read more: https://www.reuters.com/article/us-usa-fed/trump-says-u-s-economy-handcuffed-by-fed-wants-further-rate-cut-idUSKCN1UZ1MZ

[Downtown Hound]

1. Translation: Trump is very worried about a recession that he caused happening

that will doom whatever small chance he still has for reelection, so he's doing his best to head it off.

[nykym]

2. He just wants to lower

the interest rate on his massive debt to save a few thousand dollars.

[FiveGoodMen]

3. Okay, once more with feeling...

ALL THE TIME that Obama was in the White House, "you have to understand that the President can't really do much on his own. He doesn't have the power."

Now: He can do any goddamned thing he wants. His power would be the envy of Kings.

WTF??

[democratisphere]

4. I do believe that drumpf's self-destruct mode is actually working.

Good chance he'll take himself out of the Presidential race with his ridiculous idiotic actions.

[duforsure]

5. When he sees a problem he's caused about to be exposing him

He comes out accusing others , and blaming them . Its projecting a lie, which he does all the time. Tell people a lie enough and some will believe it, and exactly what he does, and often. Putin is behind his policies designed to hurt our economy .

[RichardRay]

6. Wharton called. They want his Economics degree back.

Even if it is only an undergraduate degree.