August 8, 2019 / 2:50 PM / 15 days ago

Trump criticizes U.S. dollar's strength, blames the Fed

FILE PHOTO: U.S. dollar notes are seen in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/Illustration/File Photo

WASHINGTON (Reuters) - President Donald Trump on Thursday again expressed dissatisfaction with the strength of the U.S. dollar, saying the Federal Reserve’s interest rates were harming American manufacturers.

“The Fed’s high interest rate level, in comparison to other countries, is keeping the dollar high, making it more difficult for our great manufacturers like Caterpillar, Boeing, John Deere, our car companies, & others, to compete on a level playing field,” Trump said in a series of posts on Twitter.

The Republican president has for months been calling on Fed Chairman Jerome Powell and Fed policymakers to lower interest rates to support the U.S. economy.

At the end of July, Fed policymakers cut interest rates for the first time since 2008.

Reporting by Susan Heavey; Editing by Doina Chiacu and Bernadette Baum

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