August 6, 2019 / 3:08 PM / 4 months ago

Trump trade adviser Navarro calls on Fed to cut rates further

FILE PHOTO: White House trade adviser Peter Navarro listens to a news conference about a presidential executive order relating to military veterans outside of the West Wing of the White House in Washington, U.S. March 4, 2019. REUTERS/Leah Millis

WASHINGTON (Reuters) - White House trade adviser Peter Navarro on Monday called on the U.S. Federal Reserve to cut interest rates by another three-quarters of a point to full point by end of year to bring U.S. rates into line to with rates elsewhere.

“The Federal Reserve before the end of the year has to lower interest rates by at least another 75 basis points or 100 basis points to bring interest rates here in America in line with the rest of the world,” Navarro told Fox News. “We have just too big a spread between our rates and that costs us jobs.”

Reporting by Doina Chiacu; Editing by Tim Ahmann

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