- 7th August 2019
- Posted by: Hakeem
- Categories: Economics, POLITICS
- President Trump demands that the Federal Reserve cut interest rates “bigger and faster.”
- In a series of tweets, he says the central bank is “too proud to admit their mistake.”
- Trump’s call comes with government bond yields tumbling and the stock market selling off.
President Donald Trump pressed his demand Wednesday for the Federal Reserve to accelerate interest rate cuts, saying the U.S. central bank needs to keep pace with its global counterparts.
“They must Cut Rates bigger and faster, and stop their ridiculous quantitative tightening NOW,” Trump said in a series of early morning tweets.
The call comes with U.S. government bond yields tumbling and the closely watched spread between the 3-month and 10-year notes at its biggest inversion since April 2007, just as the economy was heading into the financial crisis.