President Donald Trump lambasted the Federal Reserve for its policy decisions once again on Monday, amplifying an unprecedented degree of pressure on the independent central bank ahead of its policy meeting next week.
“With almost no inflation, our Country is needlessly being forced to pay a MUCH higher interest rate than other countries only because of a very misguided Federal Reserve,” the president wrote on Twitter.
Market Insider reported that the comments added to Trump’s increasingly forceful pressure campaign on the Fed, which operates independent of the White House. Eyeing his 2020 reelection campaign, the president has launched attacks on Chairman Jerome Powell, attempted to install political allies at the central bank and repeatedly directed policymakers to slash interest rates.
The Fed is expected to lower interest rates next week at the end of a two-day meeting, but forecasters are split on how large the adjustment will be. Policymakers are weighing strains on the economy — including Trump’s ongoing trade wars and below-target inflation — against otherwise solid growth.
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