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Republican presidential candidate Donald Trump on Wednesday accused the Federal Reserve of being “political,” after the monetary institution cut interest rates dramatically just weeks before the Nov. 5 election..
Republican presidential candidate Donald Trump commented on the interest rate cut by the Federal Reserve (the US central bank) saying that it was “a big cut.”».
The Federal Reserve began what is expected to be a series of interest rate cuts, approving an unusually large half-percentage-point cut..
“If they lower it that much, assuming they’re not just playing politics, the economy is going to be in very bad shape,” Trump told reporters.».
“Such a big cut shows either that the economy is in very bad shape or that they are playing political games,” the former Republican president told reporters on the sidelines of a campaign trip.».
The US Federal Reserve on Wednesday cut its interest rate for the first time since 2020, by half a percentage point, to a range of 4.75 to 5 percent..
The reduction is good news for Democratic candidate Kamala Harris, who is seeking to highlight President Joe Biden’s economic achievements in her race against Trump..
Trump has repeatedly criticized Federal Reserve Chairman Jerome Powell, whom he appointed, suggesting that the bank’s decisions are politicized, accusations the U.S. central bank has strongly denied..
