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What does US President Trump expect from the Fed on Wednesday?


John Naronha
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On the eve of the Fed’s interest rate decision, when most Fed watchers expect the central bank to take small steps in easing the benchmark interest rates while it leaves the door open for additional cuts later this year, US President Donald Trump thinks otherwise. Taking to Twitter, the President said the Fed raised interest rates “way too early and way too much.” He said the loss in potential wealth creation measured in terms of debt is staggering in spite of Washington’s robust growth and while the Fed made all the wrong moves, the other countries; mostly referring to the European Union and China, played well against the US. He went on to tweet that he expects the Fed to cut more than 25 basis points on Wednesday. While very few economists would agree with Trump, markets overwhelmingly anticipate the Fed to cut a quarter percentage point as insurance to prolong the ongoing expansion which has lasted close to a decade following the 2007-2009 global financial crisis.
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