WASHINGTON— The Fed cut rates to a staggering negative nine percent today in order to stimulate a slowing United States economy. Trump immediately retaliated via Twitter and criticized the Fed for not cutting rates even more aggressively.
“No guts, no sense, no vision! Jay Powell and the Federal Reserve failed today by not cutting rates more aggressively,” he said in a recent tweet.
“Could there be a simpler problem to solve? We need to cut rates to at least negative 200 percent to spur economic growth, but Jay seems incapable of doing his job,” he continued.
Although the rates were cut today, not all central-bank officials were in agreement with the direction the Fed took.
“Look, I’m all for cutting rates to spur investment and borrowing,” said Kansas City chair Steve Maestas in an exclusive interview with Business Outsider.
“But negative 99 percent is just too aggressive. My team of analysts and I were targeting around negative 70 or 75 percent,” he continued.
At press time, the Federal Reserve was scrambling to strategize their next move after the rate cut to 99% was not as impactful as they expected among Wall Street investors.