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US President Donald Trump waving his hands at the White House Oval Office in Washington, DC, before leaving for Camp David on August 30, 2019. REUTERS / Yuri Gripas
WASHINGTON (Reuters) – US President Donald Trump on Friday accused the US Federal Reserve Bank of doing nothing as the euro slid in value against the dollar, giving European countries a considerable commercial advantage.
"The euro falls against the dollar" like crazy ", which gives them a considerable advantage in terms of exports and manufacturing … and the Fed does nothing!
"They have no idea!" Said Trump, a frequent critic of the Fed's policies.
Trump has repeatedly decried the relative height of US borrowing costs relative to rates in countries competing with the United States in global markets, often citing negative rates in Germany.
On Friday, the reporter asked him if he wanted to see negative rates in the United States. Trump replied, "No. I just think the Fed is making a big mistake, because if you look at what the other Fed equivalents are doing around the world, they are at a much lower rate …. That makes competition much more difficult. "
"The Fed hurts me."
Report by David Alexander and Jeff Mason; Edited by Tim Ahmann and Rosalba O & # 39; Brien
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