Trump mounts the war of rhetoric against the Fed

WASHINGTON (Reuters) – US President Donald Trump continued on Wednesday to pressure the Federal Reserve to push for more stimulus to revive the economy in the near future. of the presidential election of 2020.

Trump said: "The bank, not China, is the biggest economic hurdle in the US," said Trump, who feared a contraction in the US financial market because of economic concerns that led to a decline bond yields in Europe and the United States.

Trump said on his personal Twitter page that the bank should "cut interest rates further and faster, to stop this absurd quantitative tightening," a week after the bank cut its key rate for the first time time for more than ten years.

Stock forecasts indicated that the US financial market would resume a selloff this week due to the worsening trade war between Beijing and Washington.

Ten-year Treasury yields tumbled dramatically as investors shifted away from riskier badets, signaling a growing fear of a slowdown in the economy.

The uncertainty caused by the trade war and fears of a global economic slowdown pushed the Fed to reduce its interest rates last week.