US President Donald Trump, once again, called upon the Fed to lower its interest rate.
“The economy is doing really well. The Federal Reserve can easily make it record setting!” Trump argued via Twitter.
“The question is being asked, why are we paying much more in interest than Germany and certain other countries? Be early (for a change), not late. Let America win big, rather than just win!”
The US Dollar Index, which slumped to a daily low of 98.08 earlier in the session following the disappointing PMI figures, easily recovered its losses on the back of hawkish Fed commentary and is now posting small daily gains at 98.30.
In an interview with CNBC, Philly Fed President Harker said that he did not see the need for further stimulus at the moment, echoing Kansas Fed President George, who told Bloomberg she would prefer to leave the rates unchanged.
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