Trump continues assault on Fed: It ‘has made all of the wrong moves’

President Trump continued his assault on the Federal Reserve on Monday, hammering the agency for raising interest rates.

{mosads}”The Fed ‘raised’ way too early and way too much. Their quantitative tightening was another big mistake. While our Country is doing very well, the potential wealth creation that was missed, especially when measured against our debt, is staggering,” the president tweeted.

“We are competing with other countries that know how to play the game against the U.S. That’s actually why the E.U. was formed….and for China, until now, the U.S. has been ‘easy pickens.’ The Fed has made all of the wrong moves. A small rate cut is not enough, but we will win anyway!”

The Fed “raised” way too early and way too much. Their quantitative tightening was another big mistake. While our Country is doing very well, the potential wealth creation that was missed, especially when measured against our debt, is staggering. We are competing with other…..

— Donald J. Trump (@realDonaldTrump) July 29, 2019

….countries that know how to play the game against the U.S. That’s actually why the E.U. was formed….and for China, until now, the U.S. has been “easy pickens.” The Fed has made all of the wrong moves. A small rate cut is not enough, but we will win anyway!

— Donald J. Trump (@realDonaldTrump) July 29, 2019

The Fed is set to hold its next monthly policy meeting on Tuesday and Wednesday, and policymakers are almost certain to cut interest rates.

The expected move comes after frequent criticisms from Trump of the Fed’s 2018 rate hikes. 

Trump is touting the country’s strong economy as a centerpiece of his 2020 campaign.

The Commerce Department on Friday issued new numbers showing gross domestic product slowed from a 3.1 percent pace in the first quarter to 2.1 percent the following three months.

Trump pinned the blame for the slowdown on rate hikes.

“Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck,” Trump tweeted, rehashing his well-worn snipe at the central bank.