President Trump on Monday tweeted that the Federal Reserve should cut interest rates by "at least 100 basis points, with perhaps some quantitative easing as well," in order to boost the U.S. and world economy.

"Our Economy is very strong, despite the horrendous lack of vision by Jay Powell and the Fed, but the Democrats are trying to 'will' the Economy to be bad for purposes of the 2020 Election. Very Selfish! Our dollar is so strong that it is sadly hurting other parts of the world. The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well. If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!"

Why it matters: Trump's attempted politicization of the Fed is not new, but he's never called for a rate cut as drastic and specific as this one. Major quantitative easing and a full percentage point cut in interest rates (from 2.25% to 1.25%) are tools that the Fed normally uses to stimulate the economy in a recession. The inversion of the yield curve, a warning sign that has preceded every recession for the past 70 years, caused a major sell-off in the stock market last week and has White House officials scrambling to do damage control.

Go deeper: Allies worry Trump is "running out of tools" to boost the economy

Go deeper

Biden clarifies comments on African American and Latino communities

Joe Biden delivering a speech in Delaware in July. Photo: Mark Makela/Getty Images

Joe Biden explained on Twitter Thursday night what he "meant" by earlier comments suggesting that "the African American community is a monolith."

What they're saying: "Unlike the African-American community, with notable exceptions, the Latino community is an incredibly diverse community with incredibly different attitudes about different things," Biden remarked in an interview hosted by the National Association of Hispanic Journalists and the National Association for Black Journalists, Politico reports.

Updated 42 mins ago - Politics & Policy

Ohio Gov. Mike DeWine tests negative for coronavirus after positive result

Photo: Justin Merriman/Getty Images

Ohio Gov. Mike DeWine (R) tested negative for the coronavirus after initially testing positive earlier Thursday, his office announced.

Why it matters: 73-year-old DeWine was set to meet President Trump Thursday on the tarmac at an airport in Cleveland and was tested as part of standard protocol.

Updated 52 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 18,996,008 — Total deaths: 712,476— Total recoveries — 11,478,835Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 4,877,115 — Total deaths: 159,990 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: Pelosi rips GOP over stimulus negotiations: "Perhaps you mistook them for somebody who gives a damn" — Ohio Gov. Mike DeWine tests positive.
  4. Public health: Majority of Americans say states reopened too quicklyFauci says task force will examine aerosolized spread Study finds COVID-19 antibodies prevalent in NYC health care workers.
  5. Business: The health care sector imploded in Q2More farmers are declaring bankruptcyJuly's jobs report could be an inflection point for the recovery.
  6. Sports: Where college football's biggest conferences stand on playing.