Trump slams Fed, calls Chair Powell 'golfer who can't putt'

Donald TrumpFOXBusiness

Trump wants a Fed, payroll tax cut

President Trump says he'd like to see a cut in the Fed rate as well as a payroll tax cut.

President Trump targeted the Federal Reserve and Chairman Jerome Powell again on Wednesday, ahead of the release of the central bank’s minutes from its last meeting.

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“He’s like a golfer who can’t putt, has no touch," Trump wrote in a tweet. "Big U.S. growth if he does the right thing, BIG CUT - but don’t count on him! So far he has called it wrong, and only let us down."

Trump said interest rates are too high and that there is big growth potential for the U.S. economy.

“We are competing with many countries that have a far lower interest rate, and we should be lower than them,” he tweeted. “Yesterday, “highest Dollar in U.S. History.” No inflation. Wake up Federal Reserve. Such growth potential, almost like never before!

Later Wednesday, Trump pointed out that Germany, which has a weaker credit rating than the U.S., is getting paid to borrow money while the U.S. is paying interest.

The Fed will release the minutes from its July meeting at 2 p.m. ET Wednesday. At the meeting, the central bank lowered its benchmark interest rate by a quarter-point, marking the first rate cut since the financial crisis. Ahead of the meeting, Trump had been calling a for "big cut," and later voiced his disappointment with the Fed's decision.

The Fed wasn't Trump's only target on Wednesday.

The president also took aim at the "LameStream Media," which he said is "doing everything possible the 'create' a U.S. recession."

Last week, the U.S. yield curve inverted for the first time since 2007, sparking concerns that a U.S. recession is on the horizon. The recession fears come as the U.S. economy has experienced slowing, albeit solid, growth. U.S. gross domestic product grew by 2.1 percent in the second quarter, down from the prior quarter's 3.1 percent growth.