WASHINGTON: US President Donald Trump on Monday renewed his attacks on the Federal Reserve, saying the central bank's reluctance to cut interest rates was standing in the way of blowout economic expansion.
"Now they stick, like a stubborn child when we need rate cuts & easing, to make up for what other countries are doing against us. Blew it!" A single member of the Fed's rate-setting Federal Open Market Committee pushed for an immediate cut to help preserve the economic expansion.But Powell insisted on the central bank's political independence, brushing aside news reports that Trump had considered demoting him. He has maintained that central bankers pay no attention to political pressure.
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