Trump demands that Fed ‘further ease’ after 50 basis point rate cut

[tacobell fan]

The Federal Reserve on Tuesday slashed interest rates by half a percentage point in response to slower economic growth from the deadly coronavirus outbreak. On the move, markets began fluctuating, dipping into and out of negative territory, amid fears of a virus-related global slow down. 

The move came the same morning the G-7 announced that it would commit unspecified tools to help the global economy deal with the threat, and as Wall Street was in the midst of another market sell-off.

The market turned in its worst performance since the financial crisis last week, when the Dow Jones Industrial Average fell more than 12%. It made up some of that ground on Monday, rising more than 1,200 points, for the biggest one-day gain ever. 

Trump, who has used stock market gains as a measure of his presidency, has been hammering the Fed to cut interest rates, tweeting Monday that the U.S. central bank is falling behind its global peers.

“As usual, Jay Powell and the Federal Reserve are slow to act. Germany and others are pumping money into their economies. Other Central Banks are much more aggressive,” Trump said, referring to the Fed chairman.

“The U.S. should have, for all of the right reasons, the lowest Rate. We don’t, putting us at a ... competitive disadvantage. We should be leading, not following!” he added.

[r2d2]

negative rate is coming... 😀

[tacobell fan]

@mettastar uncle nee maata vinapadindha @TRUMP ki?

[dasari4kntr]

His only worrying about stock market...

[VictoryTDP]

Remove it completely for a year or two

[tacobell fan]

3 minutes ago, VictoryTDP said:

Remove it completely for a year or two

lol