WASHINGTON, D.C. (WNAX) – The Federal Reserve Board made another quarter point cut in the prime rate last week. Within minutes, President Trump blasted Board Chairman Jay Powell, tweeting “No guts, no sense, no vision.. A terrible communicator.”
South Dakota Senator Mike Rounds says the Federal Reserve Board is doing its job.
Rounds says the Federal Reserve Board has to keep inflation in check.
Rounds says the Board hears the news, too.
The Board dropped the interest rate to just above two percent. The President has said they should drop it to zero to help the economy grow.