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Trump blasts Federal Reserve after interest rate cut

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US President Donald Trump has slammed the US Federal Reserve’s decision to cut interest rates.

The Federal Reserve has lowered interest rates for only the second time since 2008, this time by 25 basis points.

The move was lambasted by President Trump, who took to Twitter to declare the move a “fail”.

Commonwealth Bank Senior Economist Gareth Aird says the move came of no surprise to the market.

“What was probably more interesting is the messaging around the rate cut and the Federal Reserve is still pretty upbeat around the US economy.

“The voice from the President is quite unusual in calling on the Fed to be far more aggressive in their stimulus.”

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Image: Getty/Chen Mengtong