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US President Donald Trump continues to comment about the Fed’s monetary policy and its negative impact on the economy ahead of this week’s FOMC meeting, at which participants are expected to vote in favour of a 25 basis points rate cut.  

“he 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,” Trump tweeted out.

“We are competing with other countries that know how to play the game against the US. That’s actually why the EU  was formed. And for China, until now, the US  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 US Dollar Index eased from its two-month highs and was at 98.10, adding 0.2% on the day.