NEW YORK: U.S. President Donald Trump on Tuesday took aim once again at the Federal Reserve for its interest rate policy in a highly anticipated speech that offered no fresh details on his administration's long-running trade war with China.
The Fed has cut interest rates three times since July, but that followed a string of nine increases since late 2015. Trump has repeatedly railed against the Fed for not lowering rates even further. As he often has, Trump pointed to the market's run to a record as a validation of his economic and trade policies.
More than 1,350 people were expected to attend the lunchtime speech at a midtown Manhattan hotel, according to the club's spokeswoman, Erin Klem. The club's membership is a virtual who's who of New York's financial elite, and its trustees include John Williams, president of the Federal Reserve Bank of New York, and billionaire hedge fund investor John Paulson, one of Trump's top financial backers.