Trump says if Federal Reserve ‘knew what it was doing’ it would cut interest rates

It’s another day that ends in “y,” so that means President Donald Trump is taking it to the Federal Reserve.

Speaking to reporters before returning to Washington on Sunday, the president slammed the central bank, noting that if it “knew what it was doing” it would cut interest rates.

He stated that current Fed policy is placing the U.S. at a disadvantage against Europe and limiting gains in the stock market.

This latest attack comes two days after he tweeted that the biggest problem the country faces is not its rivals but the Fed.

Echoing his past statements, Trump accused the Fed of “raising rates too soon, too often” and adding that the Eccles Building “doesn’t have a clue.”

In the end, Trump believes that if he had the same accommodative monetary policy has his predecessor, then economic growth “would be like a rocket ship.”

He may get what he wants this month. Investors widely believe that the Fed will cut rates at the July Federal Open Market Committee (FOMC) meeting and potentially impose another reduction in September.