August 19, 2019 / 3:44 PM / a month ago

Trump says Fed should cut interest rates by one percentage point

FILE PHOTO: U.S. President Donald Trump speaks to reporters before boarding Air Force One to return to Washington from Morristown Municipal Airport in Morristown, New Jersey U.S. August 18, 2019. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday the Federal Reserve should consider cutting interest rates by 1 percentage point and advocated “some quantitative easing” as he continued his pressure campaign on the central bank.

“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,” Trump said in a Twitter post in which he also lamented that the U.S. dollar is so strong that “it is sadly hurting other parts of the world.”

Reporting by Doina Chiacu and Lisa Lambert; Editing by Chizu Nomiyama

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