Commenting on the disappointing Manufacturing Purchasing Managers’ Index (PMI) data published by the Institue for Supply Management (ISM) earlier on Tuesday, United States (US) President Donald Trump argued that the Federal Reserve’s monetary policy and the strong USD was behind the poor performance of the manufacturing sector.
“As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to all other currencies, that our manufacturers are being negatively affected,” US President Trump tweeted out.
“Fed rate too high. They are their own worst enemies, they don’t have a clue. Pathetic!”
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