Trump attacks the Fed's "horrific lack of vision"

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President Donald Trump renewed his attack on the Federal Reserve on Monday, congratulating its president named Jerome Powell, Fed chairman, for his "blatant lack of vision" and asking the central bank to cut rates from one point percentage.

Our economy is very strong, despite the dreadful lack of vision of Jay Powell and the Fed, but the Democrats are trying to "want" the economy to be bad for the 2020 elections. Very selfish! Our dollar is so strong that it hurts other parts of the world …

– Donald J. Trump (@realDonaldTrump) August 19, 2019

"The Fed's rate, over a fairly short period, should be reduced by at least 100 basis points, with perhaps some quantitative easing.If this happened, our economy would be even better and the economy would be better off. the world economy would be greatly improved soon – good for everyone! "Trump tweeted Monday morning.

The president's comments are the latest in a long series of attacks against the Fed – an independent agency that, like other central banks around the world, is isolated from political interests at short term – and its key decision makers, many of whom are its own appointees.

"Our economy is very strong, despite the dreadful lack of vision of Jay Powell and the Fed, but Democrats are trying to" want "the economy to be bad for the 2020 election goals. selfish!" the president wrote.

At its last meeting, in July, the Fed cut its benchmark borrowing rate by 0.25 percentage points, which, according to President Powell, was not due to "political considerations". "but rather the result of growing economic measures indicating a global downturn. growth that would eventually hit the United States

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Trump appoints Jerome Powell as head of the US Federal Reserve

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US President Donald Trump shakes hands when he announces his presidential candidate for the Federal Reserve, Jerome Powell, at the Rose Garden in Washington, DC, on November 2, 2017. / AFP PHOTO / SAUL LOEB SAUL LOEB / AFP / Getty Images)

US President Donald Trump announces his candidacy for the Federal Reserve presidency, Jerome Powell (left), in the White House Rose Garden in Washington, DC, on November 2, 2017. / AFP PHOTO / SAUL LOEB (Photo credit, to read SAUL LOEB / AFP / Getty Images)

Jerome Powell listens when US President Donald Trump announces the appointment of Powell as President of the US Federal Reserve at Rose Garden in Washington, DC, on November 2, 2017. / AFP PHOTO / SAUL LOEB AFP / Getty Images)

US President Donald Trump announces the appointment of Jerome Powell to the presidency of the US Federal Reserve at the White House Rose Garden in Washington, DC on November 2, 2017. REUTERS / Carlos Barria

US President Donald Trump announces his candidacy for the Federal Reserve Chair Jerome Powell in the White House Rose Garden in Washington, DC on November 2, 2017. / AFP PHOTO / SAUL LOEB (Photo credit should read SAUL LOEB / AFP / Getty Images)

US President Donald Trump, left, and Jerome Powell, governor of the US Federal Reserve and Trump's presidential candidate for the Federal Reserve, travel Thursday to the announcement of an appointment to the Rose Garden of the White House in Washington, DC, United States. November 2, 2017. If it was approved by the Senate, the former general manager and former Under Secretary of the Treasury Carlyle Group LP would succeed Janet Yellen. Photographer: Andrew Harrer / Bloomberg via Getty Images

Jerome Powell (D) speaks after being named President of the US Federal Reserve by US President Donald Trump (left) in the White House Rose Garden in Washington, DC on November 2, 2017. / AFP PHOTO / SAUL LOEB (Photo credit should read SAUL LOEB / AFP / Getty Images)

US President Donald Trump (left) announces the end of the ceremony after the announcement of Jerome Powell (right) as a presidential candidate for the Federal Reserve at the House Rose Garden -Blanche in Washington, November 2, 2017. / AFP PHOTO / SAUL LOEB (photo credit should match SAUL LOEB / AFP / Getty Images)

US President Donald Trump accompanies Jerome Powell, his presidential candidate for the Federal Reserve, at the White House in Washington on November 2, 2017. / AFP PHOTO / NICHOLAS KAMM

US President Donald Trump accompanies Jerome Powell, his presidential candidate for the Federal Reserve, at the White House in Washington, DC, on November 2, 2017. / AFP PHOTO / NICHOLAS KAMM

Jerome Powell (right) leaves US President Donald Trump after being named president of the US Federal Reserve at Rose Garden in Washington, DC, on November 2, 2017. / AFP PHOTO / SAUL LOEB (Photo credit should read SAUL LOEB / AFP / Getty Images)

US President Donald Trump shakes hands with his Federal Reserve presidential candidate Jerome Powell (R) at the White House Rose Garden in Washington, DC on November 2, 2017. / AFP PHOTO / SAUL LOEB (Credit photo should read SAUL LOEB / AFP / Getty Images)

US President Donald Trump shakes hands with Jerome Powell, his presidential candidate for the US Federal Reserve at the White House in Washington on November 2, 2017. REUTERS / Carlos Barria

US President Donald Trump arrives at the Rose Garden to announce the appointment of Jerome Powell as US Federal Reserve Chairman at the White House in Washington, DC, November 2, 2017. REUTERS / Carlos Barria

Financial markets are expecting at least another rate cut this year at the Fed's next meeting on 17 and 18 September. Some members of the Federal Open Market Committee, who vote on rate changes, are also asking for a second rate cut, likely in December.

Trump expressed growing frustration with the Fed, which raised rates seven times during its presidency. With the economy at the center of his re-election campaign for 2020, Trump wants to keep the economy on a steady footing.

Trump accused the Fed of having plunged last week into the market and said that "the stock market would be 10,000 points higher" if the Fed had followed a different strategy.

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