Trump says the Fed is the 'only problem' with economy, calls Powell 'a golfer who can't putt'

Earlier this week, President Trump called again for a full percentage point reduction in the interest rate.
Image: Donald Trump Jerome Powell
President Donald Trump looks on as Jerome Powell speaks at the White House on Nov. 2, 2017.Carlos Barria / Reuters file

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
SUBSCRIBE
By John Melloy, CNBC

President Donald Trump proclaimed the economy healthy in a pair of tweets Wednesday, saying the only thing holding U.S. growth back was the Federal Reserve.

In his latest slap at the central bank, the president compared Fed Chairman Jerome Powell to a “golfer who can’t putt.”

The president has railed continuously against the Fed, which cut its benchmark interest rate by 25 basis points at its last meeting.

However, that hasn’t been enough for Trump, who earlier this week called for a full percentage point reduction and even brought up the idea of more quantitative easing, or asset purchases like the Fed made to pull the economy out of the Great Recession.

Investors will get a look Wednesday at the thinking behind the rate cut when the policymaking Federal Open Market Committee releases the minutes from the July 30-31 meeting at 2 pm.