Trump urged the Federal Reserve to cut interest rates

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      "I think they should cut interest rates," Trump told reporters. "I think their policies have really slowed down the economy. Inflation is out of sight.
Trump also suggested that the Federal Reserve adopt an unconventional monetary policy of "quantitative easing", which was used to help the economy recover after the global financial crisis. Quantitative easing policies adopted in 2008-2014 included the purchase of trillions of dollars in government bonds and institutional debt.
"What should actually be implemented now is quantitative easing," Trump said.
Trump has repeatedly publicly criticized Fed policy and intends to nominate two political allies to the Federal Reserve Council. This has led some analysts to believe that the precious independence of economic decision-makers is being undermined. The White House has said it does not want to weaken the independence of the Federal Reserve.
Trump said quantitative easing should be restored in addition to interest rate cuts. For Fed officials, this idea may be worrying because they believe that this policy mix applies only to periods of extreme economic downturn.
On Thursday, Trump said he planned to nominate his political ally, Herman Cain, as a Fed member. There are currently two vacancies for the seven members of the Federal Reserve.


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