Trump says Fed should deliver big interest rate cut

United States President Donald Trump on Tuesday called on the Federal Reserve to cut interest rates significantly, saying higher borrowing costs are tough on its exporters and put the country at a disadvantage. "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. Must be the other way around. Should ease and cut-rate big," Trump said on Twitter.

Trump has repeatedly criticized Fed Chair Jerome Powell in the recent past and has said that the bank has kept interest rates too high.