Washington
CNN
—
President Donald Trump on Monday continued his extended attack against Federal Reserve Chair Jerome Powell and the central bank’s Board of Governors, calling for ultra-low rates in an intensifying campaign demanding interest rate cuts.
Trump on his social media platform wrote that the Fed’s board “should be ashamed of themselves for allowing this to happen to the United States.” However, officials who sit on the Fed’s board aren’t the only ones who vote on policy moves; that also includes five other regional Fed bank presidents. It’s unclear if Trump meant to attack just the board or all of the Fed officials with voting power.
He posted a chart ranking many of the world’s central banks by the level of their key interest rates, claiming the US has one of the highest.
“The Board just sits there and watches, so they are equally to blame. We should be paying 1% Interest, or better!” he said.
White House press secretary Karoline Leavitt said in a news conference Monday that Trump sent the chart to the Fed.
This is a developing story and will be updated.
