New Delhi: US President Donald Trump is often in controversy due to his statements. He does not hesitate to express his displeasure or anger towards anyone. In this series, he has targeted the Chairman of the Federal Reserve. In fact, the US Federal Reserve has cut interest rates by 0.25 percent as expected. Amid economic sluggishness around the world, it was widely believed that the Fed Reserve would reduce interest rates to ensure economic stability.
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For the second time in this year, the US central bank has slashed interest rates. Trump has turned red on this decision. The US President has said that Jerome Powell, chairman of the central bank, has neither guts nor sense nor vision. The Central Bank has also increased the interest differential paid to banks on excess reserves.
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This step has been taken by the Fed Reserve to eliminate liquidity in the market. Although three out of 10 members of the Fed Reserve's policy-making committee opposed the interest rate cut, a decision of a quarter-point cut in the interest rate was decided, with seven members favoring it. Explain that Trump has been taking a protectionist stance since assuming power.
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