ECONOMY

Donald Trump calls on Federal Reserve to cut interest rates

U.S. President Donald Trump greets supports as he arrives at a campaign rally in Cincinnati, Ohio. [Reuters Photo]

In a series of social media posts on Monday, U.S. President continued to keep up his pressure on the Fed and its chairman Jerome Powell, calling on the to by at least a full percentage point over a fairly short period of time.

U.S. President Donald Trump is calling on the Federal Reserve to by at least a full percentage point "over a fairly short period of time," saying such a move would make the U.S. economy even better and would also "greatly and quickly" enhance the global economy.

In two tweets Monday, Trump kept up his pressure on the Fed and its chairman Jerome Powell, saying the U.S. economy was strong "despite the horrendous lack of vision by Jay Powell and the Fed."

He says Democrats were trying to "will" the economy to deteriorate ahead of the 2020 election.

Trump administration officials in recent days have sought to calm worries about a potential U.S. recession that were heightened by last week's steep stock-market decline.

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