Donald Trump took aim at the "faulty thought process" at the Federal Reserve, weighing into a controversy over a speech from the New York Fed president that sent markets reeling.

The New York Fed took the unusual step on Thursday of clarifying remarks from its president, John Williams, which had stoked expectations of a 50 basis point cut later this month. It said the speech was "academic" and not a guide to short-term monetary policy.

Trump, in a string of tweets advancing his attack on the US central bank, said: "I like New York Fed President John Williams first statement

Advertisement
Advertisement