President Donald Trump continued his long-running attack on the Federal Reserve on Monday, complaining the US central bank “doesn’t know what it is doing”.
Mr Trump has been a strident critic of the Fed’s monetary policy and has repeatedly called for the bank to lower interest rates. Despite the bank’s dovish pivot in recent months and high expectations that it would cut rates this summer in response to US-Chinese trade tensions and slowing global growth, the US president claims policymakers “blew it!”
“Despite a Federal Reserve that doesn’t know what it is doing — raised rates far too fast (very low inflation, other parts of world slowing, lowering & easing) & did large scale tightening, $50 Billion/month, we are on course to have one of the best Months of June in US history,” he said in a pair of tweets on Monday.