FILE PHOTO: U.S. President Donald Trump announces Jerome Powell as his nominee to become chairman of the U.S. Federal Reserve in the Rose Garden of the White House in Washington, U.S., November 2, 2017. REUTERS/Carlos Barria/File Photo
WASHINGTON (Reuters) – U.S. President Donald Trump on Wednesday called on the Federal Reserve to lower interest rates so the United States can compete with countries that he said are devaluing their currencies.
Trump said Fed Chair Jerome Powell was doing a “bad job” managing policy as countries like China stimulate their economies.
“He has to lower interest rates for us to compete with China,” Trump told Fox Business Network, adding that other counties are also stimulating their economies. “If they devalue and we can’t we are no longer on a level playing field.”
Reporting by Susan Heavey and Jason Lange; Editing by Chizu Nomiyama