President Donald Trump on Monday downplayed any possible action by the Federal Reserve before U.S. central bank's meeting this week, even as its rate-setting panel is expected to lower borrowing costs.

"The E.U. and China will further lower interest rates and pump money into their systems, making it much easier for their manufacturers to sell a product. In the meantime, and with very low inflation, our Fed does nothing - and probably will do very little by comparison. Too bad!" he wrote on Twitter.