Trump presses Fed to bring down interest rate

WASHINGTON, US President Donald Trump said Thursday “the Federal Reserve is derelict in its duties if it doesn’t lower the rate and even, ideally, stimulate.” “Take a look around the World at our competitors. Germany and others are actually getting paid to borrow money,” he wrote on his Twitters account.

“Fed was way too fast to raise, and way too slow to cut!” Trump added.

The central bank is expected to lower interest rates for the third consecutive time next week but Trump has blamed it for holding back economic growth by previously raising the rates, even while the US economy continued to expand and unemployment reached a new 50-year low last month.

Source: Kuwait New Agency