President Donald Trump on Thursday, Sept. 12, criticized central bank of Europe and the central bank of the United States, saying the latest rate cut by the European Central Bank (ECB) is hurting U.S. exports, while the Federal Reserve (Fed) just “sits, and sits.”

“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,” President Trump wrote in a Twitter post.

His tweet comes after the ECB decided to cut main deposit rate by 10 basis points to -0.5%, a record low, according to CNBC.

The ECB also announced a massive new bond-buying program in which $21.9 billion (20 billion euros) per month of net asset purchases in a bid to stimulate the ailing eurozone economy.

President Trump then turned back to Federal Reserve, repeating his criticism that the central bank “fails to act.”

“And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!” he tweeted.

The president’s renewed attack is expected to put more pressure on the Fed to cut interest rates when it holds a policy meeting on Sept. 17-18.

Last month, the Fed lowered short-term interest rate by 25 basis points for the first time since 2008.

But such a rate cut is not enough for President Donald Trump, who has recently complained about a strong dollar, which makes American products less competitive in world markets but the Fed still “does nothing” despite an environment of low inflation.

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