WASHINGTON (Reuters) – The European Central Bank’s move to cut interest rates and restart a larger stimulus program drew fast reaction from the White House on Thursday with President Donald Trump saying the ECB was undercutting the value of its currency and “hurting U.S. exports.”
“European Central Bank, acting quickly, Cuts Rates 10 Basis Points. They are trying, and succeeding, in depreciating the Euro against the VERY strong Dollar, hurting U.S. exports…. And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!,” Trump tweeted about half an hour after the ECB’s policy announcement.
Reporting by Howard Schneider; Editing by Chizu Nomiyama