Trump Decries Fed Rate Cut as ‘Political Move’ That Won’t Work

Republican presidential candidate Donald Trump said the Federal Reserve’s decision to lower its benchmark interest rate by a half percentage point was a “political move” and that a smaller cut would have been preferable.

“It really is a political move. Most people thought it was going to be half of that number, which probably would have been the right thing to do,” Trump said in an interview with Newsmax on Thursday. “So it’s a political move to try and keep somebody in office, but it’s not gonna work, because the inflation has been so bad.”