Donald Trump calls on Federal Reserve to cut interest rates

US President Donald Trump has called on the Federal Reserve to cut interest rates by at least a full percentage point “over a fairly short period of time”.

He said such a move would make the US economy even better and would also “greatly and quickly” enhance the global economy.

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

He said 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 US recession that were heightened by last week’s steep stock-market decline.

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