(CNBC) -- President Donald Trump on Wednesday said the Federal Reserve and its chairman, Jerome Powell, have “no ‘guts,’ no sense, no vision!”
The president’s comments followed the Fed’s vote to cut interest rates by a quarter point to a target range of 1.75% to 2%, along with a 30-basis-point cut to the interest paid on so-called excess reserves.
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Powell by name as he complained that the current interest levels put the U.S. at an economic disadvantage to countries with lower rates.