US President Trump Keeps Adding Pressure to Fed to Lower Rates

July 19, 2019 Share Print 0

President Donald Trump weighed into a simmering debate over the Federal Reserve interest rate policy, saying Friday that the central bank needs to end its “crazy” tightening moves.

In a series of tweets, the president addressed an unusual controversy stemming from a speech Thursday that New York Fed President John Williams delivered.

Market participants initially took Williams’ remarks as indicative that the central bank was prepared to cut rates aggressively, by perhaps a half a percentage point. But a Fed spokesman soon walked back the comments, causing confusion over where policy is headed.

Trump said he liked Williams’ “first statement much better than his second.” He called on the Fed to “stop with the crazy quantitative tightening” and not to “blow it” by halting “unparalleled” growth.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.