US Trump doubles down on Fed criticism over rising rates

Lloyd Doyle
October 11, 2018

Money Map Press chief strategist Keith Fitz-Gerald, Fox Business correspondent Kristina Partsinevelos and Capital Wave forecast editor Shah Gilani discuss President Trump's criticism of the Federal Reserve.

With significant drops in the Dow Jones Industrial Average, S&P 500, and broad-based stock market indexes, President Trump said markets are in a "correction", and decried the Federal Reserve's recent rises in interest rates and signals for more to come.

"The Fed is making a mistake".

"It's a correction that we've been waiting for for a long time", Trump said.

A stock market correction is defined as a fall of at least 10 per cent from the high point of the last 52 weeks.

"The Fed has gone insane", he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally.

"I think the Fed has gone insane", Trump said.

Chicago Federal Reserve Bank President Charles Evans visits the online music retailer Sweetwater, in Fort Wayne, Indiana, U.S., September 14 2018. Powell said last week he expects to stick with the current path of gradual interest-rate hikes while monitoring risks in the economy. "We can do other things with the money", the president said at a September press conference in NY.

Other reports by Iphone Fresh

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