Trump demands additional cut from Fed chairman on March 3 at 8:22 pm
Amid uncertain price movements in the stock market due to the new coronavirus, U.S. President Trump swiftly criticized Powell, chairman of the Federal Reserve Board of the Federal Reserve, as the central bank, for "slow action." Asked to make additional rate cuts.
"The Fed chairman Powell is slow to act as usual. Other central banks are much more aggressive," Trump posted on Twitter Tuesday.
Powell said in an emergency statement yesterday that he could cut interest rates to `` act appropriately to support the economy, '' but as Trump continued to fluctuate volatilely in the stock market, Trump said This is a form that urged the Fed to cut additional interest rates immediately.
The Trump administration has repeatedly said that the government's response to the new coronavirus is thorough, but the Dow Jones average share price in the New York Stock Market has dropped record last week since the Lehman Shock.
President Trump has been appealing that the economy is doing well because of the rise in stock prices toward the November presidential election, but he believes the Fed's interest rate cut aims to curb financial market turmoil.