President Donald Trump publicly regretted once again having appointed Jerome Powell as head of the United States Federal Reserve (Fed) in a particularly derogatory tweet published Friday.
(Read: According to Trump, the Fed ‘does not know what it does’ and ‘ruins everything’)
"Where did I find this guy, Jerome? Well, you can be right in everything!" He wrote in reference to the president of the US central bank. "I agree with @jimcramer (a star of the CNBC financial chain), the Fed should lower its rates," he added.
(Read: Trump continues to attack the Fed to lower rates)
The Monetary Committee of the Federal Reserve must meet on September 17 and 18 to make a decision. Trump criticizes the Fed again and again for raising rates at the end of 2018 too quickly and thus strengthening the dollar, punishing US exports in the midst of a tough trade war with China.
(Read: Trump, amid promises, leaves the United States restless)
According to the president, the Federal Reserve policy is solely responsible for the economic slowdown in the country, and since the beginning of the year has been urging its managers to drastically cut rates.
Trump's virulent attacks on the agency break the tradition of respecting the independence of the Federal Reserve. But so far, Powell has not responded directly to the criticism of the president, except to indicate that he intends to reach the end of his administration.
For its part, the Federal Reserve said it will continue to act "as appropriate" to maintain US economic expansion, central bank president Jerome Powell said Friday in Zurich, reiterating a commitment that financial markets have taken a signal to A new interest rate cut.
"Our obligation is to use our tools to support the economy, and that is what we will continue to do," Powell said at the University of Zurich.
The economies of the United States and the world would not fall into a recession, he said, but they face risks and "crosswinds", including those derived from commercial uncertainty. The Fed cut its interest rates by a quarter of a percentage point in July, in what Powell described as a guarantee against a recession amid uncertainty about trade policy and a global slowdown.
Since then, trade uncertainties have increased because Washington and Beijing imposed new import tariffs, although they promised they would hold high-level talks in early October.
AFP AND REUTERS
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