US central bankers 'Fail Again' says Trump after rate cut

President Donald Trump on Wednesday yet again ripped into the Federal Reserve, saying its quarter-point rate cut was still not enough. "Jay Powell and the Federal Reserve Fail Again. No 'guts,' no sense, no vision! A terrible communicator!" Trump tweeted.

The Fed committee led by Jerome Powell moments earlier had lowered the target rate of 1.75 to 2.0 percent, as had been expected. Trump has heaped unprecedented political pressure on the central bank and Powell in particular through repeated angry statements and sometimes crude insults about the policymakers' intelligence.

The president argues that interest rates should have been cut long ago and should now be reduced sharply to compete with other countries that have lower rates.