'No guts!' Fed disappoints Trump with modest 25bps rate cut

clock • 3 min read

The Federal Reserve opted for a cautious 0.25% cut in its key interest rate last night, disappointing US president Donald Trump who said chairman Jerome Powell lacked "guts" for not implementing a deeper cut. In the face of slowing US growth and market uncertainty, seven out of ten members of the Federal Reserve's Open Markets Committee voted to shift the target range for the rate to between 1.75% and 2%. One member voted for a shaper cut, while two voted to maintain rates where they were. The Fed warned of "uncertainty" about US growth, which fell to 2% in the second quarter of thi...

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