By Nick Timiraos 

President Trump said he wished the Federal Reserve had cut interest rates at its two-day meeting this week, but added he was encouraged the central bankers seemed ready to deliver rate reductions at coming meetings.

Mr. Trump referred to projections from Fed officials and statements from Chairman Jerome Powell suggesting that they were leaning toward rate cuts as soon as July.

"They should have done it sooner, but what are you going to do," Mr. Trump told reporters on Thursday. "You can't win 'em all."

Referring to Mr. Powell, he added, "Eventually he'll do what's right, perhaps. Let's see what he does."

The Fed operates independently of the White House, and until last year, presidents over the previous 25 years refrained from commenting on rate decisions. In November 2017, Mr. Trump named Mr. Powell to lead the Fed for a four-year term beginning in February 2018.

The president has called for the Fed to cut its benchmark rate, currently in a range between 2.25% and 2.5%, by 1 percentage point.

When asked on Wednesday about speculation that Mr. Trump might try to replace him, Mr. Powell said he wouldn't leave his term before it expires in 2022.

Write to Nick Timiraos at nick.timiraos@wsj.com

(END) Dow Jones Newswires

June 20, 2019 14:16 ET (18:16 GMT)

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