Trump calls for negative interest rates from the Fed

President Trump Wednesday launched a fresh round of attacks against the Federal Reserve - calling the group of policymakers "boneheads."

The latest Twitter tirade from the President - called on Fed Chairman Jerome Powell to slash "interest rates down to zero, or less, and we should then start to refinance our debt."

He said the Fed by not lowering borrowing costs more aggressively was causing the U.S. to miss out on "a once in a lifetime opportunity."

Trump has relentlessly harassed the Fed in his call for lower interest rates.

Citing public filings and financial experts, The Washington Post pointed out last month Trump stands to personally save million of dollars a year in interest payments if the Fed lowers rates because of the outstanding loans on the hotels and resorts he took out as a real estate developer before he became president.

Trump in his tweets says he wants the Fed to follow other countries where central banks have negative interest rates, calling this an opportunity of a lifetime.

But some economists point out those economies are in far worse shape than the U.S., and those negative interest rates have done little to improve those economies.

He also pointed to "no inflation" as a rationale for his push for lower interest rates. There is, however, a whiff of inflation in the air. Data out Wednesday showed an August jump in a measure of the Producer Price Index. Excluding food and energy, the so-called core PPI was up 1.9 percent over the past 12 months, that's just a tad under the Fed's 2 percent target.

The Fed's key lending rate stands at a range of 2 to 2-1/4 percent and is expected to go down by at least a quarter point when policymakers hold a scheduled meeting next week.