US President Donald Trump speaks during a Cabinet meeting at the White House on October 21. Photo: AP

Donald Trump says US Fed is bigger problem for economy than China

  • President slams central bank for keeping interest rates at higher levels than in other countries
  • Trump had previously asked who was ‘bigger enemy’: Fed chairman or Chinese president Xi Jinping
Topic |   Donald Trump

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US President Donald Trump speaks during a Cabinet meeting at the White House on October 21. Photo: AP
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US Federal Reserve Board Chairman Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington on Wednesday. Photo: EPA-EFE

US Federal Reserve cuts rates for third time this year amid US-China trade war, but signals likely pause

  • US central bank lowers overnight lending rate by quarter of percentage point to target range of between 1.50 per cent and 1.75 per cent
  • Move seeks to keep US economy from slipping into recession as it weathers trade dispute
Topic |   US Federal Reserve

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US Federal Reserve Board Chairman Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington on Wednesday. Photo: EPA-EFE
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