U.S. Dollar Rises, Trump Goes After Fed

U.S. Dollar Rises, Trump Goes After Fed

12 Sep 2019 09:44 AM
 

The U.S. dollar was higher on Wednesday as U.S. President Donald Trump once again went after the Federal Reserve for not cutting interest rates as much as he would like. Trump said in a tweet that the central bank should cut interest rates to zero or less, calling Fed officials “boneheads.” He said negative interest rates would save the U.S. government money on its debt. Central banks in Europe and Japan introduced negative interest rates in order to try to stimulate the economy, but the lower rates have done little to boost growth or raise inflation in the regions. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, gained 0.4% to 98.653.