By: Steve Dellar | 10-10-2018 | News
Photo credit: Twitter @PhilosophyofMetrics.png

Trump Says ‘Fed Has Gone Crazy’ As It Raises Interest Rates And Markets Fall Worldwide

||| Twitter @PhilosophyofMetrics.png |||

US President Donald Trump broke with tradition and criticized the leadership of the Federal Reserve as it decided to raise interest rates and set off worldwide markets into a continued massive drop.

Mr. Trump, on his way to a rally in Pennsylvania, said that the market had been waiting for a correction like this but also claimed the US central bank was making a mistake.

“I think the Fed is making a mistake. They’re so tight. I think the Fed has gone crazy,” President Trump told reporters.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">WATCH— President Trump: “I think the Fed is making a mistake. They’re so tight. I think the Fed has gone crazy…” <a href="https://t.co/ocRLvd570D">https://t.co/ocRLvd570D</a> <a href="https://t.co/oWWwpz96G3">pic.twitter.com/oWWwpz96G3</a></p>&mdash; CNBC Now (@CNBCnow) <a href="https://twitter.com/CNBCnow/status/1050138854546698241?ref_src=twsrc%5Etfw">October 10, 2018</a></blockquote>

<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

“Actually, it’s a correction that we’ve been waiting for, for a long time. But I really disagree with what the Fed is doing.”

The Dow Jones lost a staggering 832 points in it’s third worst day by points ever.

Investors are worried about rising interest rates which they fear will put a brake on the growing US economy and are sending worldwide markets sharply down.

In the end, all 30 Dow stocks were in the red which sent the index below 26,000 points for the first time in a month. The S&P 500 also posted a decline for a fifth straight day, plummeting nearly 3.3%. The worst performers were on the tech-heavy Nasdaq, which dropped more than 4% in the worst percentage decline since June 2016.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">President Trump Blames Powell For Market Massacre: Fed Has &quot;Gone Crazy&quot; <a href="https://t.co/t2LOD0pWtj">https://t.co/t2LOD0pWtj</a></p>&mdash; zerohedge (@zerohedge) <a href="https://twitter.com/zerohedge/status/1050137842079404033?ref_src=twsrc%5Etfw">October 10, 2018</a></blockquote>

<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

The drops continued in Asia today where the Japan Nikkei lost 3.9% and the major stock markets in China, the Shanghai Composite, and the Hang Seng, dropped 3.9% and 3.8% respectively.

The Fed, of whom President Trump has been critical for a long time now, last month abandoned its description of its policy as "accomodative", claiming that the US economy was strong enough not to need the kind of stimulus it received in the form of low-interest rates.

Source:

https://www.foxbusiness.com/economy/trump-fed-has-gone-crazy-as-it-raises-interest-rates

Follow me on Gab: @Stevedellar

Follow me on Twitter: @steve_Dellar

The Goldwater proudly supports 8chan

Twitter: #ThursdayThoughts #1A #KAG #WWG1WGA #MAGA #Trump

Share this article
Thoughts on the above story? Comment below!
6 Comment/s
Anonymous No. 39064 2018-10-11 : 06:25

Crap Fed, Time to go. Rothschilds no longer.

Anonymous No. 39079 2018-10-11 : 12:18

Just as predicted. Crash the markets before mid terms. They are getting reliably predictable.

Anonymous No. 39080 2018-10-11 : 12:18

Of course, to blame on trump.

Anonymous No. 39081 2018-10-11 : 12:18

Remember what the BanKHAZAR$ did to Bu$h 43 - again and again - until he went along with their whims for another interventionist police action?

Well, it’s happening AGAIN!

Anonymous No. 39082 2018-10-11 : 12:19

Trump's right. The Fed accommodated fraud Obama by keeping interest rates at zero during his 8 year reign of error.

Sword of Truth No. 39183 2018-10-12 : 16:34

Common sense tells us.

Everybody is crooked.

Save the ones those crooked people keep telling us to attack.

Let the desire for absolute truth ring in the ears of all.

What do you think about this article?
Name
Comment *
Image

Recent News

Popular Stories