U.S. President Donald Trump today called on the Federal Reserve to cut interest rates significantly, saying that high borrowing costs are tough for exporters and does not give the country a competitive advantage.
Trump tweeted “Our Fed has us to pay higher rates than many others, when we should to pay less. Thouhg on our exporters and puts the United States in a competitive disadvantage. Must be the other way around, should ease and cut rates big”.
Trump has repeatedly criticized Federal Reserve Chairman Jerome Powell in the recent past and said the bank has kept interest rates too high.