Trump wants 'a large cut' from US Federal Reserve
- Country:
- United States
The United States President Donald Trump has said that he wants 'a large cut' from the US Federal Reserve, according to news agency AFP.
#BREAKING Trump says he wants 'a large cut' from US Fed pic.twitter.com/1Ya9CZSraz
— AFP news agency (@AFP) July 30, 2019
Donald Trump wants a cheaper dollar and has said earlier this month that the United States should match what he says are efforts by other countries to weaken their own currencies - giving them an unfair trade advantage.
Trump has railed repeatedly against the Federal Reserve for raising interest rates, complaining that the higher rates are holding back U.S. economic growth. But while signs increasingly point to the Fed's cutting rates when it meets at the end of this month, the lower rates are unlikely to weaken the dollar to a level that Trump wants.
A weaker dollar could help U.S. businesses compete globally by making exports less expensive, boosting the economy and potentially helping Trump's bid for re-election in 2020.
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