US President Donald Trump on Tuesday called on the Federal Reserve to cut the benchmark interest rate significantly, moments before the central bank was due to open its two-day policy meeting. "I would like to see a large cut," Trump told reporters at the White House, his latest move in a constant campaign to pressure monetary policymakers. "I'm very disappointed in the Fed," he said.
Markets overwhelmingly expect the central bank on Wednesday will cut in the key lending rate by 25 basis points - the first cut in more than a decade - amid a slowing global economy impacted by trade uncertainty and sluggish business investment. That would undo the Fed's most recent increase in December, which was the last of four in 2018 and the US economy picked up steam. But Trump seems to be calling for a deeper cut of 50 basis points or perhaps more. But a cut of that size is typically used only when the economy is experiencing a steep slowdown.