‘Fed probably will do very little to lower rates’

Bloomberg

President Donald Trump attacked the Federal Reserve in a tweet on Monday, saying the US central bank “probably will do very little” to counteract actions by Europe and China to ease monetary policy.
Fed officials are widely expected to lower interest rates by a quarter-percentage point when they meet on Tuesday and on Wednesday in Washington.
Trump has been pushing the Fed to cut interest rates as policy makers ready for their decision this week.
The president has repeatedly attacked the Fed for more than a year, calling on policy makers and chairman Jerome Powell to reduce borrowing costs after increasing them in 2018.
While data on the US economy have been generally solid, policy makers have said they’re monitoring the risks of slowing global growth and elevated trade tensions.
Fed officials are in a quiet period on public comment ahead of the gathering.
European Central Bank President Mario Draghi signalled the ECB will resume easing policy this year as he declared the eurozone’s economic outlook was growing “worse and worse.”
Trump has recently focused on the value of the dollar, which has risen against other major foreign currencies, making US exports more expensive abroad and imports cheaper.
He told reporters that he had not ruled out doing “something” on the currency after his economic adviser Larry Kudlow earlier declared the administration had taken intervention to weaken the currency off the table.
Trump has claimed that monetary policy at the ECB and in China has been aimed at weakening their respective currencies, and called on the Fed to respond with lower rates.