Federal Reserve must cut rates by 100 basis points, says Donald Trump

The Fed cut rates last month for the first time in a decade and signalled it was open to doing more amid slowing global growth

US President Donald Trump stepped up his assault on the Federal Reserve, urging it to cut interest rates by a full percentage point to aid global growth while complaining the “dollar is so strong that it is sadly hurting other parts of the world.”

“The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well,” the president said in a tweet Monday. “If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced--good for everyone!”

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