Trump says Fed should have cut interest rate by 50 bps

US President Donald Trump said the Federal Reserve’s rate cut, on Dec. 11, should have been twice the size approved by policymakers.

During a meeting with CEOs at the White House, Trump described Fed Chair Jerome Powell as “stubborn” and said the move was relatively small.

The Federal Reserve cut interest rates by 25 basis points, marking the third consecutive reduction this year. Policymakers projected one additional cut of the same size next year.

The Fed statement showed limited division among Federal Open Market Committee members: nine supported the decision, two preferred no change, while Stephen Munchin, recently appointed by Trump, called for a 50-bps cut.