March 3, 2020 / 4:15 PM / a month ago

Trump calls on Fed to cut rates further after emergency move

U.S. President Donald Trump speaks at a campaign rally in Charlotte, North Carolina, U.S. March 2, 2020. REUTERS/Lucas Jackson

WASHINGTON (Reuters) - U.S. President Donald Trump called for further cut rates after the Federal Reserve earlier on Tuesday slashed rates by half percentage point in an emergency move designed to insulate the nation’s economy from the impact of the coronavirus.

“The Federal Reserve is cutting but must further ease and, most importantly, come into line with other countries/competitors. We are not playing on a level field. Not fair to USA. It is finally time for the Federal Reserve to LEAD. More easing and cutting!” tweeted Trump, who has long criticized the U.S. central bank and urged lower rates.

Reporting by Susan Heavey; Editing by Chizu Nomiyama

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