Trump says Fed rate cut was ‘political move’ Reuters

WASHINGTON (Reuters) – Republican presidential candidate Donald Trump said on Thursday the U.S. Federal Reserve’s decision to cut interest rates by half a percentage point was “a political move.”

“It’s really a political move. Most people thought it would be half that number, which probably would have been the right thing to do,” Trump said in an interview with Newsmax.

The Federal Reserve on Wednesday launched what is expected to be a series of interest rate cuts with an unusually large cut of half a percentage point.

Trump said last month that US presidents should have a say in decisions made by the Federal Reserve.

The chairman of the Fed and the other six members of its governing board are appointed by the president, subject to confirmation by the Senate. The Fed enjoys substantial operational independence to make policy decisions that wield tremendous influence over the direction of the world’s largest economy and global asset markets.