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Donald Trump says Americans are 'very disappointed' after Fed rate cut

Fed officials reduced interest rates by a quarter-percentage point Wednesday and signaled a pause in further cuts unless the economic outlook changes materially

Margaret Collins | Bloomberg 

US President Donald Trump during an event in the White House	AP/PTI
US President Donald Trump during an event in the White House | AP/PTI

President resumed his attacks on the and its Chairman Jerome Powell, a day after it cut interest rates for the third time this year.

"People are VERY disappointed in Jay Powell and the Federal Reserve," Trump tweeted Thursday. “The Fed has called it wrong from the beginning, too fast, too slow."

Fed officials reduced interest rates by a quarter-percentage point Wednesday and signaled a pause in further cuts unless the economic outlook changes materially.

While economic growth has moderated this year -- in part due to weakness in manufacturing caused by uncertainty over Trump’s trade policies -- unemployment has continued to drop, consumer spending has remained solid, and the rate cuts this year have made mortgages more affordable and revived the housing market.

First Published: Fri, November 01 2019. 07:27 IST
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