The president said the Fed has been hampered by a 'horrendous lack of vision' and said it should institute 100 basis points worth of reductions in its benchmark rate.
President Donald Trump raised his demands Monday on the Federal Reserve, calling for the central bank to cut interest rates by a full percentage point and to restart its crisis-era money-printing program.
Criticizing the Fed is nothing new for Trump, who has stated his desire for a weaker dollar and interest rates that are more competitive with other countries around the world. The Fed approved a quarter-point cut at this July meeting, that has not stopped Trump from wanting more.Trump also has been hammering away at what he calls "quantitative tightening," or the Fed's efforts to reduce the amount of bonds it was holding.
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