U.S. President Donald Trump said the U.S. Federal Reserve, not his trade standoff with China, was to blame for recent signs of economic weakness.
Trump noted that "companies and jobs are fleeing" China, prices to the U.S. "have not gone up, and in some cases, have come down". "China is not our problem...Our problem is with the Fed," he wrote on Twitter.
He blamed the Fed that it raised the rate too much and too fast and now too slow to cut it.
"Spread is way too much as other countries say THANK YOU to clueless Jay Powell and the Federal Reserve. Germany, and many others, are playing the game!" Trump added.
The Federal Reserve cut interest rates by a quarter-point to 2-2.25% for the first time since 2008.
