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U.S. President Trump said Wednesday that the Federal Reserve must cut interest rates "more dramatically and faster" to make the United States competitive with other countries.
"Our problem is that the Fed is too proud to admit that it has made too many mistakes in acting too fast and tightening policy (and I am right!) They have to cut interest rates more dramatically and faster and stop their absurd quantitative tightening now." Trump said in a series of tweets.
Trump has been calling on the Federal Reserve to cut interest rates for months to support the U.S. economy.
Last week, he unexpectedly announced that he would impose new tariffs on Chinese imports, which posed another problem for the Federal Reserve, possibly forcing it to cut interest rates more than the Federal Reserve had previously expected to protect the U.S. economy from trade policy risks.
Trump's trade adviser, Navarro, on Monday urged the Federal Reserve to cut interest rates by another 75 to 100 basis points by the end of the year to keep U.S. interest rates in line with those of other countries.


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