President Donald Trump took aim Tuesday at the Federal Reserve, saying that it was past time to get the “Fed Rate down to the levels of our competitor nations.”
Trump, who has long been calling for a economic response to the panic caused by the continuing spread of Coronavirus worldwide, took to Twitter to voice his opinion. (RELATED: Trump To Announce Payroll Tax Cut For Workers Affected By Coronavirus)
Calling out Federal Reserve Chairman Jerome “Jay” Powell by name, Trump tweeted, “Our pathetic, slow moving Federal Reserve, headed by Jay Powell, who raised rates too fast and lowered too late, should get our Fed Rate down to the levels of our competitor nations. They now have as much as a two point advantage, with even bigger currency help. Also, stimulate!”
Our pathetic, slow moving Federal Reserve, headed by Jay Powell, who raised rates too fast and lowered too late, should get our Fed Rate down to the levels of our competitor nations. They now have as much as a two point advantage, with even bigger currency help. Also, stimulate!
— Donald J. Trump (@realDonaldTrump) March 10, 2020
“The Federal Reserve must be a leader, not a very late follower, which it has been!” Trump added.
The Federal Reserve must be a leader, not a very late follower, which it has been!
— Donald J. Trump (@realDonaldTrump) March 10, 2020
The stock market began Tuesday on a more positive note after a massive selloff on Monday.