With one day left until the FOMC begins its two-day monetary policy meeting - said to be the most important policy meeting since the days that immediately followed the financial crisis - President Trump once again slammed the Fed in a tweet, echoing a criticism that he has repeatedly used over the past few weeks.
Which is: That the Fed has failed to cut interest rates to get out ahead of central banks in Europe and China, despite the fact that stubbornly low inflation has left the Fed with every excuse to cut. The PBOC and the ECB will benefit from "pumping money into their systems, making it much easier for their manufacturers to sell product."
Trump's Fed-bashing apparently has one goal: To convince the central bank to authorize a 100 basis point rate cut, which would bring the Fed funds rate back between 1% and 1.5%.
Trump was very active on Twitter Monday morning, slamming Rev. Al Sharpton and Congressman Elijah Cummings after stirring up a controversy over the weekend with a tweet accusing Cummings' 7th district of being a "disgusting rodent-infested mess."
The president insisted that, under the "leadership" of Elijah Cummings, Baltimore has registered "the worst crime statistics in the Nation."