As 9/11 dawns, Trump blasts Fed members as 'boneheads'

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(AP Photo/Carolyn Kaster). President Donald Trump speaks at the 2019 National Historically Black Colleges and Universities Week Conference in Washington, Tuesday, Sept. 10, 2019. (AP Photo/Carolyn Kaster). President Donald Trump speaks at the 2019 National Historically Black Colleges and Universities Week Conference in Washington, Tuesday, Sept. 10, 2019.
(AP Photo/Manuel Balce Ceneta, File). FILE - In this July 31, 2019, file photo Federal Reserve Chairman Jerome Powell speaks during a news conference following a two-day Federal Open Market Committee meeting in Washington. Federal Reserve Chairman Jero... (AP Photo/Manuel Balce Ceneta, File). FILE - In this July 31, 2019, file photo Federal Reserve Chairman Jerome Powell speaks during a news conference following a two-day Federal Open Market Committee meeting in Washington. Federal Reserve Chairman Jero...

WASHINGTON (AP) - President Donald Trump says the U.S. is missing out economically because "Boneheads" at the Federal Reserve won't lower interest rates at his insistence.

The Fed is meeting next week and is expected to trim its benchmark rate by another quarter point after cutting the rate for the first time in a decade in July. Trump has been pressuring Fed chairman Jerome Powell to drop rates to zero. The rate currently is in a range of 2% to 2.25%.

As the sun rose on Wednesday's anniversary of the 9/11 terrorist attacks, Trump tweeted, "It is only the naïveté of Jay Powell and the Federal Reserve that doesn't allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of "Boneheads."

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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