Friday, 5 April 2019

Trump Says Fed Should Cut Rates and Lift Economy

THE NEW YORK TIMES: President Trump on Friday called on the Federal Reserve to cut interest rates and take additional steps to stimulate economic growth, his latest attempt to put the traditionally independent central bank under his thumb.

Speaking to reporters before traveling to the southern border, Mr. Trump once again criticized the Fed’s interest rate increases in 2018, saying “they really slowed us down.” The president, who is presiding over one of the longest sustained economic expansions in United States history, also said the Fed should do more to give the economy a lift.

Mr. Trump’s comments coincide with his efforts to install allies at the Fed as he heads into a re-election campaign that will largely be a referendum on the state of the economy. While the economy is still strong, the effects of Mr. Trump’s $1.5 trillion tax cut are waning and his trade war has begun to hurt some American industries, as well as contributing to slower growth in China. » | Jim Tankersley | Friday, April 5, 2019