Trump blasts Fed, says strong dollar hurting US manufacturers

US President Donald Trump said October 1, 2019 US interest rates were ‘too high’. — Reuters pic
US President Donald Trump said October 1, 2019 US interest rates were ‘too high’. — Reuters pic

WASHINGTON, Oct 1 — US President Donald Trump said today US interest rates were “too high” and that a strong dollar was hurting US manufacturers, again blaming the US Federal Reserve, which is scheduled to release manufacturing data later this month.

“As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected. Fed Rate too high. They are their own worst enemies, they don’t have a clue. Pathetic!” Trump wrote.

The Fed is due to release figures on US manufacturing output during September on October 17. — Reuters

Source: The Malay Mail Online



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