President Donald Trump sought to pressure the Federal Reserve into drastic moves to boost an already-healthy U.S. economy, calling for a steep interest-rate cut and the resumption of bond purchases as the central bank met to weigh monetary policy.
In a pair of tweets Tuesday, Trump criticized the Fed for having “incessantly lifted interest rates” amid “wonderfully low inflation” in the U.S. He also praised China for adding “great stimulus” to its economy and keeping borrowing costs low. He said the U.S. economy could soar “like a rocket” if the central bank would cut rates by a full point -- double the reduction that his economic adviser Larry Kudlow has urged.
