No reason for BoC to match Fed rate cut: Economist
The Federal Reserve, as expected, cut interest rates for the second time since July -- and, as expected, it wasn’t enough for President Donald Trump.
Trump assailed policy makers just minutes after their decision Wednesday to cut the benchmark interest rate by another 25 basis points.
“Jay Powell and the Federal Reserve Fail Again," he said in a tweet. “No ‘guts,’ no sense, no vision! A terrible communicator!”
Fed Chairman Powell is set to explain his decision further at a press conference.
The president has repeatedly attacked the Fed since mid-2018, demanding lower rates to help boost economic growth. At one point he asked whether Fed Chair Jerome Powell or China’s president, Xi Jinping, was “our bigger enemy.”