Trump Today: Trump pressures Fed and thanks House Republicans after impeachment meeting stormed
President Donald Trump applied new pressure on the Federal Reserve ahead of a key interest-rate meeting next week, and thanked House Republicans a day after a group of lawmakers stormed into a secure meeting room over the objections of Democrats.
With the Fed scheduled to meet on Tuesday, Trump tweeted, “the Federal Reserve is derelict in its duties if it doesn’t lower the rate and even, ideally, stimulate.”
Most Wall Street economists believe that the Fed will cut interest rates by a quarter-of-a-percentage point on Oct. 30 following a two-day policy meeting.
A cut by the Fed would be the third in successive meetings. Yet Trump has frequently pressed the central bank to more aggressively reduce interest rates. In his tweet Thursday, he said it was “way too slow to cut!”
As Democrats pressed on with their impeachment inquiry, Trump tweeted, “thank you to House Republicans for being tough, smart, and understanding in detail the greatest Witch Hunt in American History.”
Trump has denied any wrongdoing as Democrats investigate.
William Taylor, the top U.S. diplomat in Ukraine, testified Tuesday that Trump was holding back military aid for Ukraine unless the country agreed to investigate Democrats and a company linked to Joe Biden’s family.