President Donald Trump has once again pushed the Federal Reserve (the Fed) to lower interest rates, one week before its Federal Open Market Committee (FOMC) will hold the next policy-setting meeting.

In a series of tweets on Monday morning, July 22, President Trump at first repeated his criticism over the central bank’s monetary policy.

“With almost no inflation, our Country is needlessly being forced to pay a MUCH higher interest rate than other countries only because of a very misguided Federal Reserve. In addition, Quantitative Tightening is continuing, making it harder for our Country to compete.”

“As good as we have done, it could have been soooo much better. Interest rate costs should have been much lower, & GDP & our Country’s wealth accumulation much higher,” he said, adding that “Such a waste of time & money”.

President Trump also directed his attacks at other unfair countries which he said, “manipulate their currencies and pump money in.”

In a suggestion to Fed officials who are considering their decisions for the July 30-31 meeting, the president continued with another tweet.

“It is far more costly for the Federal Reserve to cut deeper if the economy actually does, in the future, turn down! Very inexpensive, in fact productive, to move now. The Fed raised & tightened far too much & too fast. In other words, they missed it (Big!). Don’t miss it again!”

President Trump has been criticizing the Fed and its chairman Jerome Powell for raising interest rates, rather than cutting and aiding money flows.

Earlier in July, the president said “we don’t have a Fed that knows what it’s doing” and that the U.S. economy would be like a rocket ship “if we had a Fed that would lower interest rates.”

Fed raised the federal funds rate four times in 2018 and has kept it in a range of 2.25-2.50 percent since December. If cut, this would be the first time Fed lowers its rates in a decade.

In a testimony before the House Financial Services Committee on July 10, Powell hinted a rate cut in the short term, citing trade tensions and global economic outlook are among threats to the U.S. economy.