Donald Trump has renewed his criticism of the Federal Reserve, accusing it of “moving like quicksand” compared to Germany’s central bank, despite insisting the US economy is “strong”, refuting analysts' fears a recession is imminent and apparently backing away from tax cuts.

The attack follows the president’s address to the American Veterans 75th National Convention in Kentucky on Wednesday evening, where he joked about awarding himself the Medal of Honor and trailed the idea of dumping thousands of captured Isis fighters on Europe.

US president Donald Trump speaks at the AMVETS (American Veterans) National Convention in Louisville, Kentucky: Bryan Woolston/Reuters

That speech followed a particularly wild day for Mr Trump in which he retweeted praise from an evangelical broadcaster likening the affection in which he is held by Israeli Jews to “the second coming of God”, referred to himself as “the chosen one” in discussion with reporters and labelled the prime minister of Denmark “nasty” over her refusal to consider selling Greenland to him.

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