Trump Urges Higher Federal Reserve Rate Reduction
(MENAFN) In anticipation of its upcoming monetary verdict this week, US President Donald Trump is pressing the Federal Reserve to implement a more substantial cut in interest rates.
The Fed is scheduled to reveal its rate decision on Wednesday, with financial markets forecasting a reduction of 25 basis points.
Trump has been strongly reproaching the Federal Reserve, especially its Chairman Jerome Powell, alleging that the institution has been excessively slow in lowering borrowing costs.
On Monday, Trump declared on his social media network Truth Social that the Fed "must cut interest rates" to a level "bigger than he had in mind," seemingly pointing at Powell.
He further remarked that a reduction in interest rates would allow the struggling American housing sector to "SOAR."
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