Trump meets Federal Reserve chief

WASHINGTON, US President Donald Trump said Monday he had a “very good and cordial meeting” with Federal Reserve Chairman Jay Powell mainly on interest rates and sollar strength.

“Just finished a very good and cordial meeting at the White House with Jay Powell of the Federal Reserve,” Trump said in a tweet.

“Everything was discussed including interest rates, negative interest, low inflation, easing, Dollar strength and its effect on manufacturing, trade with China, E.U. and others, etc,” he elaborated.

On October 30, the US Federal Reserve cut interest rate for third time this year.

The Federal Reserve said in a statement that “in light of the implications of global developments for the economic outlook as well as muted inflation pressures,” it has decided to lower the target range for the federal funds rate to 1.5 to 1.75 percent.

In July, the Federal Reserve first cut its interest rate by a quarter point for the first time since December 2008, then cut it again by a quarter point in September.

Source: Kuwait News Agency