The American umbrella of central banks, the Federal Reserve, has to come up with a substantial interest rate cut due to the negative economic impact of the new corona virus and the weakening global economy. That is what US President Donald Trump wrote in a tweet in response to an interest rate cut by the Australian central bank.

“The Fed needs to relax and come up with a big interest rate cut,” Trump wrote. According to the president, the Fed creates a competitive disadvantage for the United States and US exporters by not taking action against the economic consequences of the corona virus. According to Trump, this must be the other way around. He further reported that Fed Chairman Jerome Powell has been wrong at the US Central Bank from the start. Trump regularly played at Powell.

The Fed has indicated that it is ready to take action against the effects of the corona virus. On the financial markets, there is a growing expectation that the US central bank will launch an interest rate cut later this month.

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