Donald Trump has stepped up his attacks on the US Federal Reserve by calling for the central bank to cut interest rates.
The US President claimed that the Fed has “really slowed us down” in terms of economic growth, adding that “there’s no inflation”.
Mr Trump made the comments as data showed a sharp rebound in new jobs growth during March.
US firms added 196,000 jobs last month, compared to 33,000 in February.
Mr Trump said: “I think they should drop rates and get rid of quantitative tightening. You would see a rocket ship.”
The Fed has raised interest rates four times since Jerome Powell took over as chairman in February last year.
Mr Powell was appointed by Mr Trump but the president has frequently criticised the Fed chairman for increasing rates.
The Wall Street Journal reported earlier this week that Mr Trump told Mr Powell in a recent phone call: “I guess I’m stuck with you.”
The Fed had been forecast to raise interest rates a further two times this year. However, it has since said it is now taking a “patient approach” to interest rates.
Last month, it indicated that it did not expect to raise interest rates for the rest of 2019 amid slower economic growth.
Mr Trump said earlier this week that he would nominate the former boss of Godfather’s Pizza to the Fed’s board of governors.
Herman Cain, 73, ran to be the Republican presidential nominee in 2012 and is a former chairman of the Federal Reserve Bank of Kansas City.
Along with Mr Cain, Mr Trump also intends to nominate Stephen Moore, who advised the president during his election campaign, to join the Fed’s board of governors.
Source-BBC
