President Donald Trump on Thursday escalated his attack on the US Federal Reserve, calling its monetary policy “insane” and saying Mario Draghi, president of the European Central Bank, should take the helm instead.
Mr Trump, who has repeatedly called on the Fed to cut interest rates, said central bank chairman Jay Powell was doing a “bad job”.
“He has to lower interest rates for us to compete with China,” he said in an interview on Fox Business Network. “If they devalue and we can’t, we are no longer on a level playing field.”
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