Former President Donald Trump accused the Federal Reserve of “playing politics” on Wednesday following the decision to cut interest rates in an effort to kick-start a lagging economy.

Earlier on Wednesday, Federal Reserve Chair Jerome Powell cut interest rates by half of a percentage point in an effort to give much needed relief to borrowers.

While some have accused the agency of tilting the scales in favor of the current administration, Powell downplayed the perceived favoritism saying, “This is my fourth presidential election at the Fed, and it’s always the same,” Powell said. “We’re always going into this meeting in particular and asking what’s the right thing to do for the people we serve.”

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