President Donald Trump proclaimed the economy healthy in a pair of tweets Wednesday, saying the only thing holding U.S. growth back was the Federal Reserve.
In his latest slap at the central bank, the president compared Fed Chairman Jerome Powell to a “golfer who can’t putt.” He also insisted the country is “doing great with China and other Trade Deals” with “the only problem” being “Jay Powell,” whom Trump appointed to the top position in February 2018.
The president has railed continuously against the Fed, which cut its benchmark interest rate by 25 basis points at its last meeting.
However, that hasn’t been enough for Trump, who earlier this week called for a full percentage point reduction and even brought up the idea of more quantitative easing, or asset purchases like the Fed made to pull the economy out of the Great Recession.
Investors will get a look Wednesday at the thinking behind the rate cut when the policymaking Federal Open Market Committee releases the minutes from the July 30-31 meeting at 2 pm.
This is a developing story. Check back for updates.
