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

President Donald Trump resumed his attacks on the Federal Reserve 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.