Federal Reserve Chairman Jerome Powell is infuriating President Donald Trump by not moving to further cut interest rates, in contrast to aggressive easing by the European Central Bank.

The European Central Bank reduced its benchmark lending rate for the seventh time since it started lowering borrowing costs in June.

U.S. Federal Reserve Chair Jerome Powell is an exemplary central banker, telling the unflattering truth about the U.S. economy and not bowing to political pressure, European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Friday.