August 7, 2019 / 1:00 PM / 18 days ago

Trump says U.S. Federal Reserve 'too proud to admit mistakes'

WASHINGTON, Aug 7 (Reuters) - U.S. President Donald Trump said on Wednesday the U.S. Federal Reserve must cut rates “bigger and faster” for the United States to be competitive against other countries.

“Our problem is a Federal Reserve that is too proud to admit their mistake of acting too fast and tightening too much (and that I was right!). They must Cut Rates bigger and faster, and stop their ridiculous quantitative tightening NOW,” Trump said in a series of Twitter posts.

Reporting by Doina Chiacu; Editing by Bernadette Baum

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