LONDON: US President Donald Trump accused the euro area and China of weakening their currencies to gain an economic advantage, calling out the European Central Bank president for pledging monetary stimulus just as Federal Reserve officials prepared to meet in Washington.
Trump’s Twitter post came hours before the Federal Open Market Committee is scheduled to start a two-day policy meeting and not long after Draghi said at the institution’s annual forum in Sintra, Portugal, that “additional stimulus will be required” if the economic outlook for the 19-nation euro area doesn’t improve.
While Trump didn’t specifically mention the Fed in the two tweets, he’s been unhappy with his pick for Fed chairman, Jerome Powell. The US central bank has been a target of Trump’s wrath for the better part of a year because the president views the Fed’s policy rate as too high.