US President Donald Trump reacted to the European Central Bank’s decision to lower its deposit facility rate by 10 basis points to -0.5% in a tweet that read:
“European central bank, acting quickly, cuts rates 10 basis points. They are trying, and succeeding, in depreciating the euro against the very strong dollar, hurting US exports.”
Trump also took this opportunity to criticize the Fed. “And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!”
Markets largely ignored Trump’s comments as they remain focused on the ECB President Draghi’s press conference.
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